Suppose the hotel in the lecture example raised its price from $30 to $30.50. Wi

Suppose the hotel in the lecture example raised its price from $30 to $30.50. With the new price the hotel expects 96 guests to arrive 5% of the time 97 guests 10% of the time 98 guests 20% of the time 99 guests 30% of the time 100 guests 25% of the time and 101 guests 10% of the time. The variable costs per occupied room and overbooking costs are the same as in the lecture.1. Calculate the expected revenue expected variable costs and expected costs from overbooking.2. Using marginal analysis should the hotel raise its price? Explain your answer.