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The Zigus hotel routinely experiences no-shows (people making reservations and not showing up) during the peak season when the hotel is always full. No-shows follows the probability distribution given in the table below:No-shows (x) Probability0 0.11 0.132 0.313 0.164 0.215 0.09In order to lessen the number of vacant rooms, the hotel uses an overbooking policy through which it accepts three more reservations than the number of rooms available. On a day when the hotel experiences fewer than three no-shows, there are not enough rooms for those who have reservations. The hotel's policy is to send these guests to a closely located competing hotel, at a cost, supported by the Zigus hotel, of $125 per person. If the number of no-shows is more than three, the hotel has vacant rooms, resulting in an opportunity cost of $50 per person.a. Simulate 3000 days of operation to calculate the hotel's average daily cost due to overbooking and opportunity costs.b. Determine the optimal number (0, 1, 2, 3, 4, 5, 6) of rooms that the Zigus hotel should overbook in order to minimize average daily costs.
A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier quotes a price of $8.4 per stone for quantities of 600 stones or more
When Harry told Brian he was building the new room, Brian just smiled. Brian also heard that Harry borrowed money from his aunt to buy the trains.
Employee Champion and Change Agent. Some ideas for discussion -- Do the scores reflect high quality, low quality, or somewhere in between?
Evaluate the idea of supplying generic printers to the Europe DC and integrating the product by packaging the power supply and the instruction manual at the DC just prior to delivery to the European resellers.
What is the probability of having 3 or more units in the system? What is wrong with Johnny Three Toes strategy?
Illustrate what is difference between line personnel also staff personnel. Explain why are two groups so often in conflict. Would you rather have a line job or a staff job.
Image text transcribed for accessibility: In a call center, the waiting time for a customer is normally distributed with an average of 65 seconds and a variance of 25 seconds.
Armentrout broadened his product line, offering coffee, soft drinks, and breakfast items such as muffins and bagels He had become t friendly with a number of customers who often shopped to discuss the latest new's in the express
Describe a situation where you or someone you know was resistant to change as identified in one of following areas.
manufacture of business copier workstations has a 75 percent customer retention rate. ir accounting department approximates incremental contribution to profit and overhead as 40 percent. Determine average value of a loyal customer.
A hotel chain is considering using yield management to increase profits. Its plan is to sell unsold rooms at a discounted rate very close to the night of stay.
Demand for dishwasher water pumps is 8 per day. The criterion deviation of Demand is 3 per day also the order lead time is four days. The service level is 95percent. Illustrate what should the reorder point be.
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