Find the ideal discount in percent

Assignment Help Operation Management
Reference no: EM13100858

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. For example, an unsold Friday night room would be discounted early in the week. It estimates that the percentage of sold rooms (total) would be equal to 50+X, where X is the % discounted off of regular price. Meanwhile the % of rooms sold for full price compared to the discount would be 100-2X (some people would wait to book gambling a discount would happen). Find the ideal discount %.

Reference no: EM13100858

Questions Cloud

Calculate the optimal number of orders per year : At Ionic, a large retailer of popular electronics, demand is constant at 32,000 devices per year. The cost of placing an order to replenish stock is $10, and annual cost of holding a device is $4 per device.
Information about poisson-normal probabilities : In a certain state, an appeals court consists of seven judges. For a routine case, three judges are chosen at random as a panel to hear a case and render a decision. How many distinct panels can be formed?
Solve for vmin : Solve for Vmax. (d) If V0 is less than some value Vmin, a value of the height of the building does not exist that allows both balls to hit the ground at the same time. Solve for Vmin.
Illustrate what happens in the business : Suppose the owner tells you that the reason she makes every decision herself is because she believes that she can control illustrate what happens in the business. This unrealistic view is called?
Find the ideal discount in percent : 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.
How far is it stretched by a 4000 n force : A 1000N force stretches a wire by 4.0mm . A:A second wire of the same material is twice as long and has twice the diameter. How much force is needed to stretch it by 1.0 mm? B:A third wire of the same material is twice as long as the first and has..
Maximizing revenue during specific month : A producer of pleasure boats wants to maximize revenue during the next month. Two types of boats are sold, x1 and x2. Type x1 sells for $40,000 and type x2 sells for $30,000. The x1 boats require 10 weeks of labor and 600 board feet of lumber each..
Can the contract for sale be cancelled because of fraud : Several months after Stein had purchased the house, she learned from neighbours that Gortino had paid for soil treatment to eliminate termites. Can the contract for sale be cancelled because of fraud?
Which ball hits the ground first : A physics demo launches a ball horizontally while dropping a second ball vertically at exactly the same time. [Delayed Feedback] 1) Which ball hits the ground first?

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd