Spreadsheet Modeling of Hotel Room Sales and Demand Distribution Estimation
This exercise aims to emphasize the importance of understanding the difference between sales data and distribution versus actual demand data and distribution. Our example illustrates the sales pattern of hotel rooms over a period, and due to limited room availability, the sales data on hand does not totally represent the actual demand data. Students will be guided on how to handle the data, so that a fairly good demand distribution pattern can be obtained for better planning. The exercise will demonstrate using Solver to minimize the maximum absolute deviation to obtain a good estimate of the mean and standard for a normal distribution for hotel room sales and demand.
Demand estimation, Spreadsheet
Computer Sciences | Education | Management Information Systems
Intelligent Systems and Decision Analytics
Decision Sciences Journal of Innovative Education
LEONG, Thin Yin and CHEONG, Michelle Lee Fong.
Spreadsheet Modeling of Hotel Room Sales and Demand Distribution Estimation. (2009). Decision Sciences Journal of Innovative Education. 7, (1), 89-97. Research Collection School Of Information Systems.
Available at: http://ink.library.smu.edu.sg/sis_research/777