The Time to Check Out Guests at a Hotel Front

question 43

Multiple Choice

The time to check out guests at a hotel front desk was measured over the course of several weeks. Management believes that the target time for checking out guests should be between 2 and 3 minutes with a target of 2.5 minutes. The data gathered for the actual process had a mean time of 2.75 minutes with a standard deviation of 0.45 minutes. Find and interpret Cp, Cpl, Cpu, and Cpk in the context of this situation. Which one of the following statements is TRUE?

• A) The process is centered and not capable.
• B) The process is centered and capable.
• C) The process is not centered and capable.
• D) The process is not centered and not capable.

Differentiate between various methods of comparison in performance measurement and their adequacy.

Recognize the significance of lead and lag indicators in monitoring organizational progress towards goals.

Understand the process and importance of benchmarking in achieving organizational improvement.

Understand the concept and types of benchmarking.

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Definitions:

Excess Cash

Additional cash held by a business that exceeds its operational and investment needs.

Earnings Per Share

A financial metric that measures the total earnings available to shareholders divided by the number of shares outstanding.

Debt/Equity Ratio

A ratio demonstrating the comparative levels of shareholders' equity and borrowed funds deployed to finance company assets.

Residual Dividend Policy

A strategy where dividends paid to shareholders are based on earnings left over after all operational and project expenses are covered.