I ran linear regression on my hotel reservation data and obtained the following model fit in R:
Sales = 170.2 + 3.6*Days_left_to_checkIn + 7.6*Revenue - 9.6*Room_Rate -7.67*cancellation_price + 4.8*Number_of_cancelled_Room -8.9*Online_reputation_of_Hotel
After this, I used the Optimize function to optimize the equation for maximum revenue (Revenue = Room_Rate* Sales)
after substituting all the values of variables I got this equation
f=-9.6*Room_Rate^2 + Room_Rate*253.56
Optimize(f, lwr=10, upr=524)
What is the next step to calculate Room_Rate to maximize the revenue (revenue = Room_Rate * Sales)? Is there any better way to optimize the function of demand?