Avila Hotel has 300 rooms and charges $120 per room. The hotel estimates that the demand for the rooms follows a uniform distribution between 270 and 330 each day. Reservations may be canceled by 6pm with no penalty. The hotel estimates that 3% of the reservations are canceled by 6pm. Hence, the hotel allows

overbooking by 20 room (the hotel allows up to 320 customers to make reservation). When more customers arrive than can be handled (e.g., more than 300 customers), the hotel incurs $200 cost by putting them up at another hotel. The daily operating cost is $25,000, regardless of the number of rooms reserved. Develop a simulation model on Excel with 1000 trials to answer the following questions:

a) What is the average net profit of the hotel?

b) What is the probability of having a net profit more than $8,000?

c) What is the probability of having all the rooms occupied by guests?