Use This Information to Answer the Following Questions

Essay

Use this information to answer the following questions.
The Gambler Hotel in Las Vegas has 300 rooms that each rent for $175 per night.For each reservation accepted,there is a 7% chance that the guest will not arrive.If the hotel overbooks,it incurs $220 for each reservation that is not honored.
-Refer to the information above.Suppose that the hotel's manager believes that accepting 320 nightly reservations is a policy that the hotel should implement.Use Crystal Ball to estimate the average daily profit using the manager's policy.Use 1000 replications.