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Below is a room overbooking model spreadsheet for Metze, a hotel chain. The hotel has 300 rooms priced at $180 per day each and is
Below is a room overbooking model spreadsheet for Metze, a hotel chain. The hotel has 300 rooms priced at $180 per day each and is usually fully booked. Reservations can be canceled any time before 5:00 pm with no penalty. The hotel estimates an average overbooking cost of $150. Metze sets a reservation limit of 320 and estimates an average customer demand of 330 with a cancellation rate of 5%. Which of the following is the Excel formula used to estimate the number of overbooked customers in cell B13? =B12B2=MAX(0,B2B12)=MAX(0,B12B2)
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