Practical Operations Management
Practical Operations Management
2nd Edition
ISBN: 9781939297136
Author: Simpson
Publisher: HERCHER PUBLISHING,INCORPORATED
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Chapter 15, Problem 12P
Summary Introduction

Interpretation:

Outcome of decision when people stop discussion.

Concept Introduction:

Overbooking is a practice where excess orders or tickets are sold for a product or event, knowing that at the last minute there could be cancellations or no−shows. Yield management is practiced in price-sensitive products or services, where there is a relatively high fixed cost.

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