The Goal of Optimization in Revenue Management Is to Identify

question 7

Multiple Choice

The goal of optimization in revenue management is to identify a tactic

• A)using forecasts of customer behavior that will be most effective.
• B)using linear regression that will maximize revenue.
• C)using linear regression that will minimize cost.
• D)that will not have to be altered.

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Definitions:

Mayflower Compact

An early agreement established in 1620 by the Pilgrims aboard the Mayflower to form a crude government and submit to the majority's rule.

House of Burgesses

The first legislative assembly of elected representatives in North America, established in the Colony of Virginia in 1619.

Representative Government

A form of government in which citizens elect officials to create laws and policies on their behalf.

Joint Stock Companies

Businesses owned by shareholders where the stock can be bought and sold on the open market, spreading the risk and profit among many.