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  3. the following table shows the length of stay distr

The following table shows the length of stay distribution for guests staying at a beach resort,...

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Basic Math

The following table shows the length of stay distribution forguests staying at a beach resort, in days. The resort managementmakes a net profit of $250 per day per guest during the first 2days of the stay, and $150 per day per guest after the first 2days. How much profit will the resort owners make in a month(assuming 30 days in a month) if there are 100 guests arriving perday? [Hint: Note that a guest who only stays for two days is billed$500; find the average profit for one guest then work out for theentire month.]

Must be completed in Excel

Days2345678910
Prob (%)5101212111514129

Answer & Explanation Solved by verified expert
3.5 Ratings (370 Votes)
total revenue for 100 guests arriving on a day    See Answer
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