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Real-World Applicationsmedium
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A hotel has 120120120 rooms. When the daily rate is \100,allroomsareoccupied.Forevery, all rooms are occupied. For every ,allroomsareoccupied.Forevery$10increaseintherate,increase in the rate,increaseintherate,5fewerroomsareoccupied.Eachoccupiedroomcoststhehotelfewer rooms are occupied. Each occupied room costs the hotelfewerroomsareoccupied.Eachoccupiedroomcoststhehotel$20$ per day in cleaning and utilities. What daily rate (in dollars) maximizes the hotel's net profit?