So my problem is this:
I have to determine the best pricing structure for a 'simulated airline'.
There are 3 types of ticket;
Business Class seats @ $160 each, Premium Economy Class seats @ $125 each, and Super Saver Class seats @ $75 each.
A MINimum of 10% of the seats must be Business Class;
A MINimum of 50% must be Premium Economy Class tickets;
A MAXimum of 20% can be Super Saver Class tickets.
Of the Business Class seats it is predicted that only 52% will be sold, 65% of the Premium Economy Class tickets will be sold, and 76% of the Super Saver Class tickets will sell.
So the question is this... if I only have 108 seats on the aircraft what will be the best breakdown of tickets to get the maximum return given the restrictions on seat type allocations, expected sale %'s and different ticket costs?
So far I have only managed to work out an Excel based solution, using trial and error to work out the best results... but there must be a mathematical way of doing/illustrating this.
Any help gratefully received.
Thanks from New Zealand!