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1 year ago

in a revenue management system, forecasting, allocation, overbooking, and pricing must work in unison if the objective is to:

1 answer:

5 0

In a revenue management system; the forecasting, allocation, overbooking, and pricing must work in unison if the objective is to maximize the revenue generated by a perishable asset.

<h3>What is a revenue management system?</h3>

Basically, a revenue management system refers to a system that analyzes the combination of competitor rates, historical rates, market dynamics and inventory levels to predict demand and provide rate recommendations. A very good revenue management system will always automate the entire process and generate rates that can maximize revenue and profitability.

One of the example of use of Revenue Management is employed in the businesses of Hotel Management and the Airline Industry. The primary source of most revenue for hotels is found in their room rates and the revenue generated from the bookings is a simple multiplication of price and volume booked.

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Suppose the price of university sweatshirts increases from $10 to $20 and the quantity supplied increases from 20 to 30. The pri

riadik2000 [5.3K]

Answer:

0.60

Explanation:

The midpoint formula is used to calculate elasticity by using average percentage in both price and quantity.

The formula is given below:

Percentage change in quantity = (Q2 -Q1) x 100

(Q2 + Q1) / 2

Percentage change in price = (P2 -P1) x 100

(P2 + P1) / 2

Elasticity = Percentage change in price__

Percentage change in quantity

Inserting the data:

Percentage change in quantity = (30 -20) x 100 = 10 x 100 = 40%

(30 + 20) /2 25

Percentage change in price = ($20 - $10) x 100 = 10 x 100 = 66.6%

($20 + $10) /2 15

Elasticity of supply = 40%

66.6%

= 0.60

3 0

3 years ago

Your plan to enter a career is an example of a (an)

Vesnalui [34]

Plan or devotion in life, it is an influence to what you want to do :)

8 0

3 years ago

Read 2 more answers

For my business Beauty Essentials would writing personalized thank you cards be better for each customer or should I just write

alexdok [17]

Answer:

Writing personalized thank you cards would be better for each customer because it would make the customer feel more appreciated since you put so much effort into making each thank you card. For the products, the name specifically depends on what the product is.

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2 years ago

The 2016 financial statements of Leggett & Platt, Inc. include the following information in a footnote. What are the company

nalin [4]

Answer:

$493.8

Explanation:

Since the 2016 financial statements of Leggett & Platt, Inc. includes the following information in a footnote. (in millions) 2016 2015 Allowance for doubtful accounts $ 7.2 $ 9.3 Total accounts and other receivables, net $486.6 $520.2

Therefore the company’s current gross accounts and other receivables at the end of 2016 is

Net Total accounts and other receivables, net $486.6

Allowance for doubtful accounts .............................$ 7.2

Gross accounts and other receivables................$493.8

The gross accounts and other receivables will be the amounts before making any allowances for doubtful accounts

3 0

3 years ago

All IRS-certified volunteer preparers participating in the VITA/TCE programs must use Form 13614-C along with an effective inter

katen-ka-za [31]

Answer: True

Explanation:

It is required that all volunteers preparing to participate in the VITA/TCE programs must use Form 13614-C along with an effective interview for every return prepared at the site. This is a major requirement, if not they won't participate or partake in the program.

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2 years ago