1. An example of a firm using yield management in their services would be if Amt
ID: 346660 • Letter: 1
Question
1.
An example of a firm using yield management in their services would be if Amtrack were to price its train as follows:
Business Class with 20 seats at $_________ & Economy Class with 100 seats at $________
$1000 , $100
$1000, $1000
$100, $10000
$100, $1000 (buy one get one free)
2.
One way to reduce a queue is to reduce ________ during __________ times
Demand, off-peak
Demand, peak
Supply, off peak
supply, peak
3.
Imagine you receive an order to do 200 Hot Pot dishes in 2 hours. In addition you have 3 stations that all have a part in making the dish.
Station 1 = 10 Secs
Station 2 = 20 Secs
Station 3 = 10 Secs
Calculate the labor content
40 Seconds
100 minutes
60 Seconds
2.5 Minutes
Could you please be kind enough and show me the answers in detail? Thank you so much for reading this and have a good one!
$1000 , $100
$1000, $1000
$100, $10000
$100, $1000 (buy one get one free)
2.
One way to reduce a queue is to reduce ________ during __________ times
Demand, off-peak
Demand, peak
Supply, off peak
supply, peak
3.
Imagine you receive an order to do 200 Hot Pot dishes in 2 hours. In addition you have 3 stations that all have a part in making the dish.
Station 1 = 10 Secs
Station 2 = 20 Secs
Station 3 = 10 Secs
Calculate the labor content
40 Seconds
100 minutes
60 Seconds
2.5 Minutes
Could you please be kind enough and show me the answers in detail? Thank you so much for reading this and have a good one!
Explanation / Answer
1. An example of a firm using yield management in their services would be if Amtrack were to price its train as follows:
Business Class with 20 seats at $_________ & Economy Class with 100 seats at $________
Answer = $1000 , $100
2. One way to reduce a queue is to reduce ________ during __________ times
Answer = Demand, peak
3. Imagine you receive an order to do 200 Hot Pot dishes in 2 hours. In addition you have 3 stations that all have a part in making the dish.
Station 1 = 10 Secs
Station 2 = 20 Secs
Station 3 = 10 Secs
Calculate the labor content
Answer= The total labor content is defined as the time sum of all process steps
= Station 1 + Station 2 + Station 3
= 10 + 20 + 10
= 40 seconds
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