Problem 8-21 (Algorithmic) 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: Rental Class Room Super Saver Deluxe Business Type I $30 $35 — Type II $20 $30 $40 Type I rooms do not have 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 rentals in the Deluxe class, and 50 rentals in the Business class. Round Tree has 100 Type I rooms and 120 Type II rooms. Use linear programming to determine how many reservations to accept in each rental class and how the reservations should be allocated to room types. Variable # of reservations SuperSaver rentals allocated to room type I fill in the blank 1 SuperSaver rentals allocated to room type II fill in the blank 2 Deluxe rentals allocated to room type I fill in the blank 3 Deluxe rentals allocated to room type II fill in the blank 4 Business rentals allocated to room type II fill in the blank 5 Is the demand by any rental class not satisfied? Explain. The input in the box below will not be graded, but may be reviewed and considered by your instructor. How many reservations can be accommodated in each rental class? Rental Class # of reservations SuperSaver fill in the blank 8 Deluxe fill in the blank 9 Business fill in the blank 10 Management is considering offering a free breakfast to anyone upgrading from a Super Saver reservation to Deluxe class. If the cost of the breakfast to Round Tree is $5, should this incentive be offered? 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? The input in the box below will not be graded, but may be reviewed and considered by your instructor. 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? The input in the box below will not be graded, but may be reviewed and considered by your instructor.
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Problem 8-21 (Algorithmic)
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:
| Rental Class | ||||
Room |
Super Saver | Deluxe | Business | |
| Type I | $30 | $35 | — | |
| Type II | $20 | $30 | $40 |
Type I rooms do not have wireless Internet access and are not available for the Business rental class.
Round Tree's management makes a
- Use linear programming to determine how many reservations to accept in each rental class and how the reservations should be allocated to room types.
Variable # of reservations SuperSaver rentals allocated to room type I fill in the blank 1 SuperSaver rentals allocated to room type II fill in the blank 2 Deluxe rentals allocated to room type I fill in the blank 3 Deluxe rentals allocated to room type II fill in the blank 4 Business rentals allocated to room type II fill in the blank 5
Is the demand by any rental class not satisfied?
Explain.
The input in the box below will not be graded, but may be reviewed and considered by your instructor. - How many reservations can be accommodated in each rental class?
Rental Class # of reservations SuperSaver fill in the blank 8 Deluxe fill in the blank 9 Business fill in the blank 10 - Management is considering offering a free breakfast to anyone upgrading from a Super Saver reservation to Deluxe class. If the cost of the breakfast to Round Tree is $5, should this incentive be offered?
- 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?
The input in the box below will not be graded, but may be reviewed and considered by your instructor. - 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?
The input in the box below will not be graded, but may be reviewed and considered by your instructor.
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