Round Tree Manor is a hotel that provides two types of rooms with three rental classes: Super Saver, Deluxe, and Business. The profit per night for each type of room and rental class is as follows: Rental Class Super Saver Deluxe Business Room Type I (Mountain View) $35 $40 - Type II (Street View) $15 $25 $35 Round Tree's management makes a forecast of the demand by rental class for each night in the future. A linear programming model developed to maximize profit is used to determine how many reservations to accept for each rental class. The demand forecast for a particular night is 140 rentals in the Super Saver class, 65 in the Deluxe class, and 40 in the Business class. Since these are the forecasted demands, Round Tree will take no more than these amounts of each reservation for each rental class. Round Tree has a limited number of each type of room. There are 100 Type I rooms and 120 Type II rooms. (a) Formulate and solve a linear program to determine how many reservations to accept in each rental class and how the reservations should be allocated to room types. If an amount is zero, enter “0”. Rental Class with room type No of Reservations Super Saver rentals allocated to room type I Super Saver rentals allocated to room type II Deluxe rentals allocated to room type I Deluxe rentals allocated to room type II Business rentals allocated to room type II (b) For the solution in part (a), how many reservations can be accommodated in each rental class? Rental Class No of Reservations Super Saver I Deluxe Business Demand for - Select your answer -DeluxeSuper SaverBusinessItem 9 rental class was not satisfied. (c) With a little work, an unused office area could be converted to a rental room. If the conversion cost is the same for both types of rooms, would you recommend converting the office to a Type I or a Type II room? Type I Type II Shadow Price $ $ Convert an unused office area to - Select your answer -Type IType IIItem 12 room. Explain. The input in the box below will not be graded, but may be reviewed and considered by your instructor. (d) Could the linear programming model be modified to plan for the allocation of rental demand for the next night? - Select your answer -YesNoItem 14 What information would be needed and how would the model change? Explain. The input in the box below will not be graded, but may be reviewed and considered by your instructor.
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Round Tree Manor is a hotel that provides two types of rooms with three rental classes: Super Saver, Deluxe, and Business. The profit per night for each type of room and rental class is as follows:
| Rental Class | ||||
| Super Saver | Deluxe | Business | ||
Room |
Type I (Mountain View) | $35 | $40 | - |
| Type II (Street View) | $15 | $25 | $35 |
Round Tree's management makes a
| (a) | Formulate and solve a linear program to determine how many reservations to accept in each rental class and how the reservations should be allocated to room types. If an amount is zero, enter “0”. | ||||||||||||
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| (b) | For the solution in part (a), how many reservations can be accommodated in each rental class? | ||||||||||||
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| Demand for - Select your answer -DeluxeSuper SaverBusinessItem 9 rental class was not satisfied. | |||||||||||||
| (c) | With a little work, an unused office area could be converted to a rental room. If the conversion cost is the same for both types of rooms, would you recommend converting the office to a Type I or a Type II room? | ||||||||||||
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| Convert an unused office area to - Select your answer -Type IType IIItem 12 room. | |||||||||||||
| Explain. | |||||||||||||
| The input in the box below will not be graded, but may be reviewed and considered by your instructor. | |||||||||||||
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| (d) | Could the linear programming model be modified to plan for the allocation of rental demand for the next night? | ||||||||||||
| - Select your answer -YesNoItem 14 | |||||||||||||
| What information would be needed and how would the model change? Explain. | |||||||||||||
| The input in the box below will not be graded, but may be reviewed and considered by your instructor. | |||||||||||||
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S1 = Super Saver Type 1 rooms
S2 = Super saver Type 2 rooms
D1 = Deluxe Type 1 rooms
D2 = Deluxe Type 2 rooms
B2 = Busienss Type 2 rooms.
The Excel model would be as follows.
The formulas used are as follows.
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