CRME Certified Revenue Management Executive Study guides, Class notes & Summaries

Revenue Management Final Exam Question & Answers 2022/2023Revenue Management Final Exam Question & Answers 2022/2023

Revenue Management Final Exam | Latest 2023 with complete solution What is the industry term used to describe the sum of prices paid by a business's customers? - Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - Profit What eleme...

Revenue Management Final Exam and Answers. What is the industry term used to describe the sum of prices paid by a business's customers? - Answer Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Answer Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Answer Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - Answer Profit What e...

What is the industry term used to describe the sum of prices paid by a business's customers? - ANSWER - Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - ANSWER - Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - ANSWER - Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - ANSWER - Profit What element is not present in a ba...

Revenue Management Final Exam Practice Questions With Correct Solution Expert Verified 2024 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 We can reduce prices (even below total cost per room), as long as the reduced price covers, fixed cost per ...

Revenue Management Final exam |Questions with Complete Verified Solutions |A Graded Latest Updated 2024 What is the term used to identify a management philosophy that places customer gain ahead of short-term revenue maximization in revenue management decision making? Correct Answer customer-centric revenue management What is the term used to describe the potential customers to whom a business's marketing activities and messages are directed? Correct Answer the target market Understand...

Revenue Management Final Exam| Practice Questions With Verified Solutions 2024 Revenue Correct Answer The total number of sales achieved in a specific time period. Calculated as: # of units x unit price= Revenue Accountants Profit Formula Correct Answer Sales= Cost + Profit (Profit= Revenue- Expenses) Profit Correct Answer The net value achieved by a seller and a buyer in a business transaction ROI (Return on Investment) Correct Answer ROI= Owners Investment Return / Owners Original ...

Revenue Management Final Exam| Questions With Verified Answers A Graded Latest Updated 2024 What is the industry term used to describe the sum of prices paid by a business's customers? -daily receipts -profit -profits less expenses -total revenues correct answer -total revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? -income -revenue -costs -profits correct answer -costs What is an algebrai...

Revenue Management Final Exam | Updated Question & Answers Graded 100% What is the industry term used to describe the sum of prices paid by a business's customers? Answer Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? Answer Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? Answer Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transactio...

Hospitality Revenue Management final exam review Questions and answers latest update

1. a.: A patient is given a new medication and reports nausea within an hour after taking the drug. The nurse consults the drug information manual and learns that nausea is not an expected adverse effect of this drug. When the next dose is due, what will the nurse do? a. Administer the drug and tell the patient to report further nausea. b. Hold the drug and notify the provider of the patient's symptoms. c. Report the symptoms of nausea to the MEDWATCH program. d. Request an order for an ant...

1. A patient is diagnosed with borderline hypertension and states a desire to make lifestyle changes to avoid needing to take medication. The nurse will recommend which changes? a. Changing from weight bearing exercise to yoga b. Decreased fluid intake and increased potassium intake c. Stress reduction and increased protein intake d. Weight reduction and decreased sodium intake: ANS: D Weight loss decreases the stress on the heart and the afterload. Decreasing salt intake decreases the amou...