Asked by Marish Quilicot on May 13, 2024
Verified
If the number of available suites increases by 1 to 756,re-solving the model using Solver,the total revenue would ________.
A) decrease by approximately $55.76
B) increase by approximately $17.82
C) decrease by approximately $2,100.76
D) increase by approximately $17.96
Total Revenue
The total amount of income generated by the sale of goods or services related to a company's primary operations.
Available Suites
Rooms or sets of connected rooms in a hotel, hospital, or other establishments that are ready for occupancy or use.
- Utilize nonlinear optimization strategies and model development to address business issues.
- Employ Solver along with additional optimization instruments proficiently for making business decisions.
Verified Answer
TB
TaCoriah BarnettMay 16, 2024
Final Answer :
B
Explanation :
Increasing the number of available suites typically allows for more bookings, thus potentially increasing total revenue. The specific amount of increase depends on the pricing model and demand, but in this scenario, it results in an approximate increase of $17.82.
Learning Objectives
- Utilize nonlinear optimization strategies and model development to address business issues.
- Employ Solver along with additional optimization instruments proficiently for making business decisions.