Assume you are the manager of a hotel that has 330 rooms. You are trying to determine the price that will maximize the revenue. You notice that as long as the hotel rate is $99 or lower, the hotel is fully booked. However if you raise the price above $99 you notice that for each $1 increase in price, two fewer rooms will be booked. For example if the hotel rate is $100, the number of rooms booked is 328, if the hotel rate is $101, the number of rooms booked is 326, if the hotel rate is $102, the number of rooms booked is 324, and so on. What price should you charge to maximize the revenue? Round your answer to the nearest integer. Your answer should be a whole number.
Assume you are the manager of a hotel that has 330 rooms. You are trying to determine the price that will maximize the revenue. You notice that as long as the hotel rate is $99 or lower, the hotel is fully booked. However if you raise the price above $99 you notice that for each $1 increase in price, two fewer rooms will be booked. For example if the hotel rate is $100, the number of rooms booked is 328, if the hotel rate is $101, the number of rooms booked is 326, if the hotel rate is $102, the number of rooms booked is 324, and so on. What price should you charge to maximize the revenue? Round your answer to the nearest integer. Your answer should be a whole number.
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Assume you are the manager of a hotel that has 330 rooms. You are trying to determine the price that will maximize the revenue.
You notice that as long as the hotel rate is $99 or lower, the hotel is fully booked. However if you raise the price above $99 you notice that for each $1 increase in price, two fewer rooms will be booked.
For example if the hotel rate is $100, the number of rooms booked is 328, if the hotel rate is $101, the number of rooms booked is 326, if the hotel rate is $102, the number of rooms booked is 324, and so on.
What price should you charge to maximize the revenue?
Round your answer to the nearest integer. Your answer should be a whole number.
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