Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Which of the following statements is NOT true about the Revenue Management? a. Revenue management is based on setting and updating prices. b. Revenue

1. Which of the following statements is NOT true about the Revenue Management? a. Revenue management is based on setting and updating prices. b. Revenue management is originated in the airline industry. c. Through revenue management, the firms can allocate their capacity to different fare classes over time in order to maximize revenue. d. Revenue management focuses on shaping demand via controlling supply under the limited capacity.

2. According to the Littlewoods Rule, which of the following does NOT generate pressure to increase the booking limit? a. Increase in the full-fare price b. Increase in the discount-fare price c. Increase in the plane capacity d. Decrease in the average full-fare demand

3. A hotel has 200 rooms and the historical show rate is 90%. What will be the (closest) optimal overbooking level given by the deterministic overbooking heuristic? a. 222 b. 180 c. 200 d. None of the above e. 220

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finance And Financial Markets

Authors: Keith Pilbeam

4th Edition

1137515627, 978-1137515629

More Books

Students also viewed these Finance questions