Small Leaf Resort and Cresgrove Resort Are Established Hotels in the Hospitality

question 18

Multiple Choice

Small Leaf Resort and Cresgrove Resort are established hotels in the hospitality industry.However,Small Leaf Resort has a larger net profit than that of Cresgrove Resort.In order to remain financially viable in the hospitality market,Cresgrove Resort decides to charge more for their rooms and other services.In this scenario,which of the following best explains the reason behind Cresgrove Resort incurring losses?

• A) Cresgrove Resort has high labor-related expenses.
• B) Cresgrove Resort hires employees belonging to the age group of 15 to 20.
• C) Cresgrove Resort has better quality and customer service than Small Leaf Resort.
• D) Cresgrove Resort considers its employees as resources.
• E) Cresgrove Resort's compa-ratio is less than 1.

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Definitions:

Population Size

The total number of individuals or units in the group or area being studied.

Sampling Distribution

The likelihood distribution derived from a certain statistic using a random sample.

Standard Error

Standard error measures the dispersion or accuracy of sample statistics compared to the true population parameter, usually in mean calculations.

Random Sample

A subset of individuals chosen from a larger set (population) where each individual has an equal chance of being selected.