In a Revenue Management and Six Sigma Context, an Unrented

question 45

Multiple Choice

In a revenue management and Six Sigma context, an unrented hotel room or empty airline seat is considered to be a(n) ?

• A) Asset
• B) Cost
• C) Error
• D) Defect

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Definitions:

Transformation

The process of changing something from one form or state to another, often seen in context with business, personal development, or technology.

Unemployment

The situation when people who are willing to work at prevailing wage rates cannot find employment.

Movement

In economic terms, it often refers to a change in price or quantity in response to market forces on a graph.

Opportunity Costs

The cost of forgoing the next best alternative when making a decision or choosing among options.