REVENUE MANAGEMENT EXAM
REVENUE MANAGEMENT EXAM 2 QUESTIONS AND ANSWERS GRADED A+
3 reasons why forecasting demand is important - correct answer -
scheduling workers
-purchasing supplies
-managing cash flow
What type of data describes events that have already occurred? - correct
answer Historical Data
What type of data describes events that are occurring now or in the
very near future? - correct answer Current Data
What type of data describes events that will occur in the future? - correct
answer Future data
Effective demand forecasts are based on: - correct answer - insight
, REVENUE MANAGEMENT EXAM
-future data
-historical data
-current data
Data contained in a trailing period are often used in calculating ___ -
correct answer a rolling average
What are some common types of historical data tracked by RMs - correct
answer - number of reservations/ room nights booked per day
- number of reservations/ room nights denied per day
-number of daily reservation cancellations
- number of arrivals
- number of departures
-walk-ins
-ADR achieved
-occ % achieved
-avg # guests/ room
-avg length of guest stay
T or F: A rolling average is calculated by using historical data generated
during a specific and unchanging time period - correct answer FALSE: A
rolling average is calculated using a changing time period
REVENUE MANAGEMENT EXAM 2 QUESTIONS AND ANSWERS GRADED A+
3 reasons why forecasting demand is important - correct answer -
scheduling workers
-purchasing supplies
-managing cash flow
What type of data describes events that have already occurred? - correct
answer Historical Data
What type of data describes events that are occurring now or in the
very near future? - correct answer Current Data
What type of data describes events that will occur in the future? - correct
answer Future data
Effective demand forecasts are based on: - correct answer - insight
, REVENUE MANAGEMENT EXAM
-future data
-historical data
-current data
Data contained in a trailing period are often used in calculating ___ -
correct answer a rolling average
What are some common types of historical data tracked by RMs - correct
answer - number of reservations/ room nights booked per day
- number of reservations/ room nights denied per day
-number of daily reservation cancellations
- number of arrivals
- number of departures
-walk-ins
-ADR achieved
-occ % achieved
-avg # guests/ room
-avg length of guest stay
T or F: A rolling average is calculated by using historical data generated
during a specific and unchanging time period - correct answer FALSE: A
rolling average is calculated using a changing time period
