17 Oct Enterprise Car Company is a local rental car company serving the Santa Ana area. The management team is considering to inc
Enterprise Car Company is a local rental car company serving the Santa Ana area. The management team is considering to incorporate the network management framework into its booking system. To begin with, the management team attempts to identify the optimal booking schedule for weekends (i.e., from Friday to Sunday) to maximize its revenue performance. Specifically, Enterprise Car Company has 200 full-size sedans available for Friday, 250 full-size sedans for Saturday, and 240 full-size sedans for Sunday.
The rental prices for Friday, Saturday, and Sunday are $79, $49, and $39 respectively. If a consumer asks for two-consecutive-day booking, then this customer will receive a 10% discount on the total price. For three-consecutive-day booking, the discount will be 20% over the total price. Particularly, demand and prices for all booking periods are as shown in the following table:
|
Booking Period |
Price |
Demand |
|
Friday Only |
$79 |
155 |
|
Saturday Only |
$49 |
112 |
|
Sunday Only |
$39 |
98 |
|
Friday-Saturday |
? |
155 |
|
Saturday-Sunday |
? |
135 |
|
Friday-Sunday |
? |
207 |
Enterprise Car Company has hired you as a consultant to identify the optimal booking limits for weekends. What is the optimal solution and maximum revenue?
Your Task: Use Excel Solver to formulate the network management problem and solve it. Then save your spreadsheet including the formulation and its solution, and submit your spreadsheet together with this word file onto Canvas.
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