Respuesta :
Answer:
89 rooms should be set for early book customer
Step-by-step explanation:
According to the given data we have the following:
OVERAGE(CO) = 200
SHORTAGE(CS) = 500
In order to calculate how many rooms should be set for early book customer we would have to use the following formula:
OPTIMAL BOOKING = MEAN + (Z * STDEV)
MEAN = 75
STDEV = 25
SERVICE LEVEL= CS / (CS + CO) = 500 / (500 + 200) = 0.7143
Z VALUE FOR 0.7143 = 0.57
OPTIMAL BOOKING = 75 + (0.57 * 25) = 89
89 rooms should be set for early book customer
A standard deviation is a measure of how dispersed the data is in relation to the mean.
89 rooms should be set for early book customer
Since, charge $200 per night for those who book early and $500 per night for those who book at the last minute.
Charge for early booking , (EB) = $200 per night
Charge for last minute booking, (LB) = $500 per night
To find how many rooms should be set for early book customer
we will use formula shown below,
[tex]= Mean + (Z * deviation)[/tex]
Given that, mean is 75 and standard deviation is 25.
Probability of early booking , [tex]p=\frac{500}{500+200}=0.7143[/tex]
From z - table, Z - value corresponding to p- value of 0.7143 is 0.57
So, Z- value for 0.7143 = 0.57
Thus, number of room for early booking is,
= [tex]75+(0.57*25)=89.25[/tex]
Hence, 89 rooms should be set for early book customer.
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