The Harriet Hotel in downtown Boston has 100 rooms that rent for $150 per night. It costs the hotel $30 per room in variable costs (cleaning, bathroom items, etc.) each night a room is occupied. For each reservation accepted, there is a 5% chance that the guest will not arrive. If the hotel overbooks, it costs $200 to compensate guests whose reservations cannot be honored.How many reservations should the hotel accept if it wants to maximize the average daily profit?

Can you please explain how work this problem in the solver and pl explain step by step process.

How many reservations should the hotel accept if it wants to maximize the average daily profit?