1. A local restaurant owner has learned that you are studying Operations and Supply Chain Management and would like your advice about Yield Management concepts. The restauranteur wants to know if yield management can be applied at the restaurant and the conditions necessary to use it increase revenues. In your answer defined Yield Management, explain the necessary conditions and environment under which it can be applied and advise how it can be applied at a restaurant, if at all.
2. A local Tech Business uses Zoom to offer Online Instruction to students on or off campus. Due to high demand for these classes, there is a problem of Computer Servers breaking down and in need of repair. Repair personnel can be hired at the rate of $80 per hour, but they only work as one team. Thus, if one person is hired, he or she works alone; two or three technicians work together on the same repair.
3. One technician can fix servers in an average time of 24 minutes. Two technicians take 18 minutes, and three take 15 minutes. While these Computer Servers are down, lost income is $120 per hour. The servers tend to break down every 30 minutes. How many repairers should be hired? Why? (Note: Explain your answers even when you use the models in Excel)