It is a research proposal as a term project of the IE 519 Dynamic Programming course I took in Fall 2018 at Penn State IME.
Abstract: For the term project of the Dynamic Programming course, I have worked on restaurant revenue management of allocating customers to tables to maximize the revenue of the restaurants. Unlike the previous study on the similar settings, multiple sizes of parties and tables are considered. Probability distributions to model the multiple sizes of parties and tables are proposed. Then the dynamic programming model and seating schemes using that model are proposed to maximize the restaurant revenue.
Keywords: Revenue Management, Restaurant Revenue Management, Dynamic Programming, Guests Placement Scheme