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Revenue Management- Forecasting Demand Exam questions With 100% Correct Answers
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The number of potential buyers with the interest and ability to purchase the products sold by a business at the specific price offered. - ANSWER-Demand (Customers) Accurate forecasts are important for: - ANSWER-scheduling workers purchasing supplies managing cash flow Events that have already occurred - ANSWER-Historical Data Events occurring now or in the very near term - ANSWER-Current Data Events that will occur in the future - ANSWER-Future Data To forecast accurately, RMS use 3 types of data: - ANSWER-Historical Data Current Data Future Data
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