Title

Spreadsheet Modeling of Hotel Room Sales and Demand Distribution Estimation

Publication Type

Journal Article

Publication Date

2009

Abstract

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.

Keywords

Demand estimation, Spreadsheet

Discipline

Computer Sciences | Education | Management Information Systems

Research Areas

Intelligent Systems and Decision Analytics

Publication

Decision Sciences Journal of Innovative Education

Volume

7

Issue

1

First Page

89

Last Page

97

ISSN

1540-4595

Identifier

10.1111/j.1540-4609.2008.00206.x

Publisher

Wiley

Additional URL

http://dx.doi.org/10.1111/j.1540-4609.2008.00206.x