Identify (3) three revenue management “factors” that will have an impact on a hotel with respect to optimizing revenue generation. Explain and elaborate each concept.

.Ceramic hip replacements are very durable but can also be squeaky. The May 11, 2008 issue of the New York Times reported that in one study of randomly sampled 143 individuals who received ceramic hips beween 2003 and 2005, 10 of the hips developed squeaking. Calculate and interpret the 95% score CI for the true proportion of such hips that develop squeaking. (Include all 3 steps.)

3. See the table below that was assigned to you as homework in a previous week.  Suppose that the market price is $13 per unit.

a. What quantity will the firm produce? Why?

b. At that quantity level, what profits or losses will this firm make?

c. The breakeven price is the point at which the price equals the minimum ATC. At what price would this firm break even?

d. The textbook indicates that if product price equals the minimum of AVC or lower, the firm must shut down because at any quantity that the firm produces, the revenue that the firm gets is not even enough to pay the variable costs of production.  What is the shutdown price, in the table above?

4. How is a monopoly different from perfect competition?

5. How does the quantity produced and price charged by a monopoly compare to that of a perfectly competitive firm?

Marlo, a publicly held corporation with a 21 percent tax rate, has agreed to pay an annual salary of $1.32 million to its employee, Mrs. Ryman. In making your calculation, ignore the employer payroll tax.

Compute Marlo’s after-tax cost of the salary when Mrs. Ryman is Marlo's principal executive officer (PEO).

Compute Marlo’s after-tax cost of the salary when Mrs. Ryman is Marlo's Director of Marketing and the sixth most highly compensated employee in the company.

The standard error of the estimate for the above bivariate data is:

Question 3 options:

A company sold a total of 1,000 units for total sales revenue of $70,000.

The company incurred total variable expenses of $38,500 and total fixed expenses of $ 23,310.

Based on this, the company reported a total contribution margin of $31,500 and net operating income of $ 8,190.

Use this information to answer the following questions. Assume that all units are within the relevant range.

1 Calculate the net operating income if the variable cost per unit increases by $1, spending on fixed costs increases by $1,600, and unit sales increase by 220 units.

2 Calculate the break-even point in unit sales.

3 Calculate the break-even point in unit sales.

4 Calculate the number of units that must be sold to earn a target profit of $18,900.

A company sold a total of 1,000 units for total sales revenue of $70,000. The company incurred total variable expenses of $38,500 and total fixed expenses of $ 23,310. Based on this, the company reported a total contribution margin of $31,500 and net operating income of $ 8,190. Use this information to answer the following questions. Assume that all units are within the relevant range.

1.Calculate the per-unit contribution margin

2.Calculate the contribution margin ratio.

3. Calculate the increase in net operating income if sales increase to 1,001 units

4.Calculate the net operating income if the selling price increases by $2 per unit and the sales volume decreases by 100 units.

Problem 6-2A Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (LO6-3, 6-4,6-5) [The following information applies to the questions displayed below.] Greg’s Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Greg's Bicycle Shop uses a periodic inventory system.

For the specific identification method, the March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase.

1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method.

2. Using FIFO, calculate ending inventory and cost of goods sold at March 31.

3. Using LIFO, calculate ending inventory and cost of goods sold at March 31.

4. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31. (Round your intermediate and final answers to 2 decimal places.)

5. Calculate sales revenue and gross profit under each of the four methods. (Round weighted-average cost amounts to 2 decimal places.)