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Revenue Management Final Exams Bundle with Complete Solutions 2023/2024
Revenue Management Final Exams Bundle with Complete Solutions 2023/2024
[Show more]Revenue Management Final Exams Bundle with Complete Solutions 2023/2024
[Show more]What is the industry term used to describe the sum of prices paid by a business's customers? - Correct Answer Total Revenues 
 
Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Correct Answer Costs 
 
What is an algebraic equivalent of the formu...
Preview 3 out of 16 pages
Add to cartWhat is the industry term used to describe the sum of prices paid by a business's customers? - Correct Answer Total Revenues 
 
Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Correct Answer Costs 
 
What is an algebraic equivalent of the formu...
What is the main reason that travelers today have more clout than ever before? - Correct Answer They have information on virtually everything at their fingertips. 
 
Revenue Management is NOT necessarily about... - Correct Answer Achieving 100 % occupancy and a perfect science 
 
The Hurdle Rate is....
Preview 2 out of 6 pages
Add to cartWhat is the main reason that travelers today have more clout than ever before? - Correct Answer They have information on virtually everything at their fingertips. 
 
Revenue Management is NOT necessarily about... - Correct Answer Achieving 100 % occupancy and a perfect science 
 
The Hurdle Rate is....
What is bigger in the tourism industry, fixed costs or variable costs? - Correct Answer fixed costs are bigger 
-Think of an airplane: staffing, airport fees (fixed) - huge amount of the costs for airplanes come from fixed costs; food, fuel (variable) - not as easy to determine the variable costs 
 ...
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Add to cartWhat is bigger in the tourism industry, fixed costs or variable costs? - Correct Answer fixed costs are bigger 
-Think of an airplane: staffing, airport fees (fixed) - huge amount of the costs for airplanes come from fixed costs; food, fuel (variable) - not as easy to determine the variable costs 
 ...
Revenue Management Final Exam Study Guide with Complete Solutions
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Add to cartRevenue Management Final Exam Study Guide with Complete Solutions
What is the industry term used to describe the sum of prices paid by a business's customers? - Correct Answer total revenues 
 
Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Correct Answer costs 
 
What is an algebraic equivalent of the formu...
Preview 3 out of 17 pages
Add to cartWhat is the industry term used to describe the sum of prices paid by a business's customers? - Correct Answer total revenues 
 
Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Correct Answer costs 
 
What is an algebraic equivalent of the formu...
Revenue - Correct Answer The total amount of sales achieved in a specified time period 
 
Revenue is calculate as: - Correct Answer Number of Units Sold x Unit Price 
 
Effective managers of an organization's revenues MUST do three things - Correct Answer 1. Understand the importance of revenue man...
Preview 3 out of 18 pages
Add to cartRevenue - Correct Answer The total amount of sales achieved in a specified time period 
 
Revenue is calculate as: - Correct Answer Number of Units Sold x Unit Price 
 
Effective managers of an organization's revenues MUST do three things - Correct Answer 1. Understand the importance of revenue man...
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