(Park Hyatt) Consider the example of the Park Hyatt Philadelphia discussed in the text. Recall that. 1 answer below »


(Park Hyatt) Consider the sample of the Park Hyatt Philadelphia discussed in the quotation. Recall that the unmeasured price is $225, the expected unmeasured-price insist is Poisson delay moderation 27.3, the abatement price is $159, and there are 118 king/queen extents. Now believe the absorb of an unlawful extent is $45 per misinterpretation. That absorb includes the work associated delay prepping and cleaning a extent, the concomitant utilities used, and the exhibit and sunder on the goods and fixtures. Believe the Park Hyatt wishes to maximize expected improvement rather than expected return. What is the optimal safety roll for the unmeasured price? [18.2]