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Inn at Penn has 200 rooms. For regular-fare customers, rooms are priced at $300 per night while the rooms are priced at $600 per night for the high-paying customers who generally arrive at the last minute. The demand for such high fare customers is distributed normally with mean 60 and standard deviation 25 (this standard deviation is high relative to the mean, but use it anyway). Assume that there is ample demand for regular-fare customers.
Suppose that Inn at Penn operates with the protection level of 80 rooms for high fare customers. On average, how many high-fare customers are turned away because of lack of rooms?
List and describe three main capabilities or tools of a DBMS. Identify and discuss the major types of systems in a business from a constituency perspective. What is the relationship between these systems? What is the difference between a virtual priv..
You are concerned about the cost of accepting this proposal, especially since it is not clear that LPL will realize any savings or additional revenue from the conversion.
Discuss how Larger used different conflict resolution and political strategies to solve these conflicts to make better use the company's resources (Regarding conflicts, politics, and conflict resolution)
Consider a single server queuing system. If the arrival rate (lamda) is 79 people per hour and it takes 48 minutes to serve one person. what is the average number of customers in line? What will actually happen, Jockeying, reneging or increase in sal..
The annual demand for a product is 16,000 units. The weekly demand is 308 units with a standard deviation of 80 units. The cost to place an order is $30.50, and the time from ordering to receipt is six weeks.
Identify atleast 5 cases describing development of Master Demand Schedule or Master Production Schedule in a manufacturing or service organization.
Preparing to buy a car that costs $36,000. You can pay for the car using an auto loan from the car manufacturer or using money from your home equity line of credit (HELOC). The auto loan charges 2.75% interest per annum. The HELOC charges 3.85% inter..
What is Innovation and Why is it Important? Innovation can be viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. It is making decisions that change the status quo. Innovation means..
The Bureau of Labor Statistics has employment projections by state and by occupation. Assign particular occupations for individual students or groups of students to research for your state using this site. Which occupations have higher and lower proj..
Given the following diagram for a product, determine the quantity of each component required to assemble one unit of the finished product.
Pet Food Inc.: A local retailer of pet food faces demand for one of its items at a constant rate of 30,000 bags per year. It costs them $10 to process an order and $1 per bag per year to carry the item in stock. The stock is received four working day..
Conduct research about a biblical figure such as Moses, David, Paul, Joseph, Esther, or Nehemiah to learn about how the biblical leader exemplified servant leadership and see how the principles of servant leadership transcend time and place. Think ab..
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