Inn at Penn has 200 rooms. During the summer months, if the rooms are priced at the low-rate of $300 per night, the hotel can achieve full-occupancy. Recognizing that there might be business customers with a higher willingness to pay for these same rooms during the summer, the hotel manager is contemplating offering these rooms to such customers at three potential higher rates of $ 450, $ 550, and $ 650. However, the Florida MBA Program MAN 5501 Operations Management Demand Distribution when Sales Price = $ 5.50 manager is also cognizant of the fact that demand at a higher rate will be uncertain and hence, through a market analysis obtains the following additional data: 1. For a high rate of $ 450, demand from business customers will be normally distributed with a mean of 100 with a standard deviation of 30; 2. For a high rate of $ 550, demand from business customers will be normally distributed with a mean of 90 with a standard deviation of 20; and 3. For a high rate of $ 650, demand from business customers will be normally distributed with a mean of 60 with a standard deviation of 15. Assuming that the hotel will choose to offer one of the three high rates in conjunction with the low-rate of $ 300, you are required to address the following questions analytically. 1. If the objective of the manager is to minimize the expected number customers who will be turned away, which high rate should be chosen. 2. If the objective of the manager is to maximize expected sales of total number of rooms, which high rate should be chosen. 3. If the objective of the manager is to minimize expected rooms unoccupied, which high rate should be chosen. 4. If the objective of the manager is to maximize expected daily revenue, which high rate should be chosen.