- Business
- Operations Management
- this was already posted and someone did it but had...
Question: this was already posted and someone did it but had...
Question details
***This was already posted, and someone did it but had the
incorrect solution and did not complete the problem.
The Pantall has the following rooms available: 20 Luxury Suites, 45
Regular Rooms, and 30 Economy Rooms. Needless to say, a successful
Groundhog Day is very important to the Pantall. For the
night of February 1, the rooms are priced per night as follows:
Luxury Suites |
Regular Rooms |
Economy Rooms |
|
Early Bird Rate (until December 31) |
$200 |
$100 |
$75 |
Standard Rate |
$375 |
$250 |
$200 |
Last Minute Rate |
$475 |
$350 |
$300 |
Demand for the rooms (the number of prospective customers willing to pay each price) is as follows:
Luxury Suites |
Regular Rooms |
Economy Rooms |
|
Early Bird Rate (until December 31) |
18 |
25 |
28 |
Standard Rate |
12 |
23 |
10 |
Last Minute Rate |
5 |
8 |
5 |
Management would like to have:
- At least 8 luxury suites sold at early bird rate
- At least 20 regular rooms sold at early bird rate
- At least 20 economy rooms sold at early bird rate
- At least 5 luxury suites sold at standard rate
- No more than 15 total rooms at the last minute rate
Prepare a formulation of the problem and solve it using Excel Solver. Then, critique the management constraints; explain what you'd do differently and why.
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