The Opaque Approach to Selling Inventory

question 33

Multiple Choice

The opaque approach to selling inventory:

• A) Is a form of an agency model strategy
• B) Is utilized by Hotwire.com and Priceline.com
• C) Allows the hotel to discount without letting brand-loyal customers trade down in price
• D) Both A & B
• E) Both B & C

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Definitions:

Samples

Subsets of a population selected for measurement, observation, or questioning to make statistical inferences about the whole population.

Populations

In statistics, the entire pool from which a statistical sample is drawn and to which conclusions or inferences are made based on the sample.

Sampling Error

The discrepancy between a sample statistic and its corresponding population parameter, due to the fact that the sample is not a perfect representation of the population.

Systematic Error

A consistent, predictable error associated with the measurement process that affects all data points in the same direction.