hi, Could you please check the questions that i attached. i need the solutions as soon as possible, thanks a lot..

MAN 440 - Revenue Management Spring 2016 In class exercise #10 Names: Question #1: Answer the discussion questions given below based on the questions 4 & 5 at the end of Introduction to The Theory and Practice of Yield Management by Netessine and Shumsky. Problem 4. WZMU is a television station that has 25 thirty-second advertising slots during each evening. The station is now selling advertising for the first few days in November. They could sell all the slots now for $4,000 each, but because November 7 will be an election day, the station may be able to sell slots to political candidates at the last minute for a price of $10,000 each. For now, assume that a slot not sold in advance and not sold at the last minute is worthless to WZMU. To help make this decision, the sales force has created the following probability distribution for lastminute sales: How many slots should WZMU sell in advance? Compare the revenues WZMU would have earned under the PRM policy obtained above with revenues that they would have earned if they did not employ a PRM policy (i.e., if they sold at a first-come-first-served basis). Problem 5. An aircraft has 100 seats, and there are two types of fares: full ($499) and discount ($99). While there is unlimited demand for discount fares, demand for full fares is estimated to be Poisson with mean l=20. How many seats should be protected for full-fare passengers? Now, assume the demand for discount fares is not unlimited, but it follows a random distribution as given below. P(D