Essentials Of Business Analytics
1st Edition
ISBN: 9781285187273
Author: Camm, Jeff.
Publisher: Cengage Learning,
expand_more
expand_more
format_list_bulleted
Videos
Textbook Question
Chapter 8, Problem 5P
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:
Type I rooms do not have high-speed wireless Internet access and are not available for the Business rental class. 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 130 rentals in the Super Saver class, 60 in the Deluxe class, and 50 in the Business class. Round Tree has 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.
- b. For the solution in part (a), how many reservations can be accommodated in each rental class? Is the demand for any rental class 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? Why?
- d. Could the linear programming model be modified to plan for the allocation of rental demand for the next night? What information would be needed and how would the model change?
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
The table below indicates the number of years of experience of a sample of employees who work on a particular production line and the corresponding number of units of a good that each employee produced last month.
Years of Experience (x)
Number of Goods (y)
11
63
5
57
1
48
4
54
5
45
3
51
Q.1.1 By completing the table below and then applying the relevant formulae, determine the line of best fit for this bivariate data set.
Do NOT change the units for the variables.
X
y
X2
xy
Ex=
Ey=
EX2
EXY=
Q.1.2 Estimate the number of units of the good that would have been produced last month by an employee with 8 years of experience.
Q.1.3 Using your calculator, determine the coefficient of correlation for the data set.
Interpret your answer.
Q.1.4 Compute the coefficient of determination for the data set.
Interpret your answer.
Can you answer this question for me
Techniques QUAT6221 2025 PT B...
TM
Tabudi Maphoru
Activities Assessments Class Progress lIE Library • Help v
The table below shows the prices (R) and quantities (kg) of rice, meat and potatoes items bought during 2013 and 2014:
2013
2014
P1Qo
PoQo
Q1Po P1Q1
Price
Ро
Quantity
Qo
Price
P1
Quantity
Q1
Rice
7
80
6
70
480
560
490
420
Meat
30
50
35
60
1 750
1 500
1 800
2 100
Potatoes
3
100
3
100
300
300
300
300
TOTAL
40
230
44
230
2 530
2 360
2 590
2 820
Instructions:
1 Corall dawn to tha bottom of thir ceraan urina se se tha haca nariad in archerca antarand cubmit
Q Search
ENG US
口X
2025/05
Chapter 8 Solutions
Essentials Of Business Analytics
Ch. 8 - Kelson Sporting Equipment, Inc., makes two types...Ch. 8 - The Sea Wharf Restaurant would like to determine...Ch. 8 - Blair Rosen. Inc. (BR) is a brokerage firm that...Ch. 8 - Round Tree Manor is a hotel that provides two...Ch. 8 - Industrial Designs has been awarded a contract to...Ch. 8 - Vollmer Manufacturing makes three components for...Ch. 8 - Photon Technologies, Inc., a manufacturer of...Ch. 8 - The Westchester Chamber of Commerce periodically...Ch. 8 - The management of Hartman Company is trying to...Ch. 8 - The employee credit union at State University is...
Ch. 8 - The Atlantic Seafood Company (ASC) is a buyer and...Ch. 8 - The Silver Star Bicycle Company will manufacture...Ch. 8 - The Clark County Sheriff’s Department schedules...Ch. 8 - Bay Oil produces two types of fuel (regular and...Ch. 8 - Consider the following network representation of a...Ch. 8 - Refer to the transportation problem described in...Ch. 8 - Aggie Power Generation supplies electrical power...Ch. 8 - The Calhoun Textile Mill is in the process of...Ch. 8 - Refer to the Calhoun Textile Mill production...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- The table below indicates the number of years of experience of a sample of employees who work on a particular production line and the corresponding number of units of a good that each employee produced last month. Years of Experience (x) Number of Goods (y) 11 63 5 57 1 48 4 54 45 3 51 Q.1.1 By completing the table below and then applying the relevant formulae, determine the line of best fit for this bivariate data set. Do NOT change the units for the variables. X y X2 xy Ex= Ey= EX2 EXY= Q.1.2 Estimate the number of units of the good that would have been produced last month by an employee with 8 years of experience. Q.1.3 Using your calculator, determine the coefficient of correlation for the data set. Interpret your answer. Q.1.4 Compute the coefficient of determination for the data set. Interpret your answer.arrow_forwardQ.3.2 A sample of consumers was asked to name their favourite fruit. The results regarding the popularity of the different fruits are given in the following table. Type of Fruit Number of Consumers Banana 25 Apple 20 Orange 5 TOTAL 50 Draw a bar chart to graphically illustrate the results given in the table.arrow_forwardQ.2.3 The probability that a randomly selected employee of Company Z is female is 0.75. The probability that an employee of the same company works in the Production department, given that the employee is female, is 0.25. What is the probability that a randomly selected employee of the company will be female and will work in the Production department? Q.2.4 There are twelve (12) teams participating in a pub quiz. What is the probability of correctly predicting the top three teams at the end of the competition, in the correct order? Give your final answer as a fraction in its simplest form.arrow_forward
- Q.2.1 A bag contains 13 red and 9 green marbles. You are asked to select two (2) marbles from the bag. The first marble selected will not be placed back into the bag. Q.2.1.1 Construct a probability tree to indicate the various possible outcomes and their probabilities (as fractions). Q.2.1.2 What is the probability that the two selected marbles will be the same colour? Q.2.2 The following contingency table gives the results of a sample survey of South African male and female respondents with regard to their preferred brand of sports watch: PREFERRED BRAND OF SPORTS WATCH Samsung Apple Garmin TOTAL No. of Females 30 100 40 170 No. of Males 75 125 80 280 TOTAL 105 225 120 450 Q.2.2.1 What is the probability of randomly selecting a respondent from the sample who prefers Garmin? Q.2.2.2 What is the probability of randomly selecting a respondent from the sample who is not female? Q.2.2.3 What is the probability of randomly…arrow_forwardTest the claim that a student's pulse rate is different when taking a quiz than attending a regular class. The mean pulse rate difference is 2.7 with 10 students. Use a significance level of 0.005. Pulse rate difference(Quiz - Lecture) 2 -1 5 -8 1 20 15 -4 9 -12arrow_forwardThe following ordered data list shows the data speeds for cell phones used by a telephone company at an airport: A. Calculate the Measures of Central Tendency from the ungrouped data list. B. Group the data in an appropriate frequency table. C. Calculate the Measures of Central Tendency using the table in point B. D. Are there differences in the measurements obtained in A and C? Why (give at least one justified reason)? I leave the answers to A and B to resolve the remaining two. 0.8 1.4 1.8 1.9 3.2 3.6 4.5 4.5 4.6 6.2 6.5 7.7 7.9 9.9 10.2 10.3 10.9 11.1 11.1 11.6 11.8 12.0 13.1 13.5 13.7 14.1 14.2 14.7 15.0 15.1 15.5 15.8 16.0 17.5 18.2 20.2 21.1 21.5 22.2 22.4 23.1 24.5 25.7 28.5 34.6 38.5 43.0 55.6 71.3 77.8 A. Measures of Central Tendency We are to calculate: Mean, Median, Mode The data (already ordered) is: 0.8, 1.4, 1.8, 1.9, 3.2, 3.6, 4.5, 4.5, 4.6, 6.2, 6.5, 7.7, 7.9, 9.9, 10.2, 10.3, 10.9, 11.1, 11.1, 11.6, 11.8, 12.0, 13.1, 13.5, 13.7, 14.1, 14.2, 14.7, 15.0, 15.1, 15.5,…arrow_forward
- PEER REPLY 1: Choose a classmate's Main Post. 1. Indicate a range of values for the independent variable (x) that is reasonable based on the data provided. 2. Explain what the predicted range of dependent values should be based on the range of independent values.arrow_forwardIn a company with 80 employees, 60 earn $10.00 per hour and 20 earn $13.00 per hour. Is this average hourly wage considered representative?arrow_forwardThe following is a list of questions answered correctly on an exam. Calculate the Measures of Central Tendency from the ungrouped data list. NUMBER OF QUESTIONS ANSWERED CORRECTLY ON AN APTITUDE EXAM 112 72 69 97 107 73 92 76 86 73 126 128 118 127 124 82 104 132 134 83 92 108 96 100 92 115 76 91 102 81 95 141 81 80 106 84 119 113 98 75 68 98 115 106 95 100 85 94 106 119arrow_forward
- The following ordered data list shows the data speeds for cell phones used by a telephone company at an airport: A. Calculate the Measures of Central Tendency using the table in point B. B. Are there differences in the measurements obtained in A and C? Why (give at least one justified reason)? 0.8 1.4 1.8 1.9 3.2 3.6 4.5 4.5 4.6 6.2 6.5 7.7 7.9 9.9 10.2 10.3 10.9 11.1 11.1 11.6 11.8 12.0 13.1 13.5 13.7 14.1 14.2 14.7 15.0 15.1 15.5 15.8 16.0 17.5 18.2 20.2 21.1 21.5 22.2 22.4 23.1 24.5 25.7 28.5 34.6 38.5 43.0 55.6 71.3 77.8arrow_forwardIn a company with 80 employees, 60 earn $10.00 per hour and 20 earn $13.00 per hour. a) Determine the average hourly wage. b) In part a), is the same answer obtained if the 60 employees have an average wage of $10.00 per hour? Prove your answer.arrow_forwardThe following ordered data list shows the data speeds for cell phones used by a telephone company at an airport: A. Calculate the Measures of Central Tendency from the ungrouped data list. B. Group the data in an appropriate frequency table. 0.8 1.4 1.8 1.9 3.2 3.6 4.5 4.5 4.6 6.2 6.5 7.7 7.9 9.9 10.2 10.3 10.9 11.1 11.1 11.6 11.8 12.0 13.1 13.5 13.7 14.1 14.2 14.7 15.0 15.1 15.5 15.8 16.0 17.5 18.2 20.2 21.1 21.5 22.2 22.4 23.1 24.5 25.7 28.5 34.6 38.5 43.0 55.6 71.3 77.8arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
College Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning
Algebra for College StudentsAlgebraISBN:9781285195780Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage Learning
Elementary Linear Algebra (MindTap Course List)AlgebraISBN:9781305658004Author:Ron LarsonPublisher:Cengage Learning
Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage
College Algebra (MindTap Course List)
Algebra
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:Cengage Learning
Algebra for College Students
Algebra
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Cengage Learning
Elementary Linear Algebra (MindTap Course List)
Algebra
ISBN:9781305658004
Author:Ron Larson
Publisher:Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:9781133382119
Author:Swokowski
Publisher:Cengage
Solve ANY Optimization Problem in 5 Steps w/ Examples. What are they and How do you solve them?; Author: Ace Tutors;https://www.youtube.com/watch?v=BfOSKc_sncg;License: Standard YouTube License, CC-BY
Types of solution in LPP|Basic|Multiple solution|Unbounded|Infeasible|GTU|Special case of LP problem; Author: Mechanical Engineering Management;https://www.youtube.com/watch?v=F-D2WICq8Sk;License: Standard YouTube License, CC-BY
Optimization Problems in Calculus; Author: Professor Dave Explains;https://www.youtube.com/watch?v=q1U6AmIa_uQ;License: Standard YouTube License, CC-BY
Introduction to Optimization; Author: Math with Dr. Claire;https://www.youtube.com/watch?v=YLzgYm2tN8E;License: Standard YouTube License, CC-BY