online revenue management

Week 4Individual Assignment 1
Preliminary Exercise: Review the “Solved Problem” at the end of Chapter 17 of Fitzsimmons & Fitzsimmons (468–470) and review the following technical note: Weatherford, L., & Bodily, S. E. (1990). Seasonality in time forecasting. Darden Business Publishing. (UVA-QA-0407).

Case Study (for review): Weatherford, L., & Bodily, S. E. (1989). Marriott rooms forecasting. Darden Business Publishing. (UVO353).

The manager of a large downtown hotel has to decide whether or not to accept 60 additional reservations. If she accepts, she will be overbooked and face certain costs if all the reservations show up. She must forecast, based on historical data, how many of the people holding reservations will show up and then decide whether to take the additional bookings after taking into account the cost involved. The case is used to treat seasonality and exponential smoothing in time-series forecasting.

Analyze the case and give recommendations to the manager about the request for 60 reservations.

Presentation and layout:
Cover page
Executive Summary
Table of Contents
List of Tables & Figures

1.Background and Issue Statement
2.Analysis of the Problem
3.Recommendations
Reference List
Appendices

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