Impact Of Forecasting In Business Quiz

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Impact Of Forecasting In Business Quiz - Quiz

Do you know everything you need to know about business forecasting? Think you can pass a quiz? Forecasting is the utilization of past data to determine the direction of future trends in business and world situations in general. Take this quiz if you need to gauge how much you know about it. With this business forecasting quiz, you will not only test your knowledge but enhance it too. Even if you miss out on something, we will help you with the correct answer. All the best! Do share it with other businessmen.


Questions and Answers
  • 1. 

    Which of the following is the most important short-term planning activity performed by front office managers?

    • A.

      Setting up staffing schedules

    • B.

      Estimating expenses

    • C.

      Dividing work among staff

    • D.

      Forecasting the number of rooms available for sale

    Correct Answer
    D. Forecasting the number of rooms available for sale
    Explanation
    Front office managers need to accurately forecast the number of rooms available for sale in order to effectively plan and allocate resources. This activity is crucial for short-term planning as it helps determine the staffing requirements, estimate expenses, and divide the workload among staff members. By forecasting the number of rooms available for sale, front office managers can ensure that they have the right number of staff members scheduled, budget appropriately for expenses, and efficiently allocate tasks to meet the demands of the guests.

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  • 2. 

    Which of the following statistics helps the front office manager decide whether to sell rooms to walk-in guests on nights when the hotel nears full occupancy?

    • A.

      Percentage of walk-ins

    • B.

      Percentage of no-shows

    • C.

      Multiple occupancy percentage

    • D.

      Average daily rate

    Correct Answer
    B. Percentage of no-shows
    Explanation
    The front office manager needs to consider the percentage of no-shows to determine whether to sell rooms to walk-in guests on nights when the hotel is nearing full occupancy. This statistic helps the manager understand the likelihood of reserved guests not showing up, which can create available rooms for walk-in guests. By analyzing the percentage of no-shows, the manager can make informed decisions about selling rooms to walk-in guests without risking overbooking or turning away potential revenue.

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  • 3. 

    The percentage of overstays is equal to:

    • A.

      The number of overstay rooms divided by the number of actual room checkouts.

    • B.

      The number of overstay rooms divided by the number of expected room checkouts.

    • C.

      The number of stayover rooms divided by the number of expected room arrivals.

    • D.

      The number of overstay rooms divided by the number of reservations.

    Correct Answer
    B. The number of overstay rooms divided by the number of expected room checkouts.
    Explanation
    The correct answer is "the number of overstay rooms divided by the number of expected room checkouts." This is because the percentage of overstays is calculated by dividing the number of rooms that were overstayed by the number of rooms that were expected to be checked out. This calculation provides a measure of the proportion of rooms that were not vacated on time, indicating the extent of overstay incidents.

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  • 4. 

    At most lodging properties, the ten-day forecast is developed jointly by the front office manager and the:

    • A.

      General manager.

    • B.

      Accounting department.

    • C.

      Reservations manager.

    • D.

      Executive housekeeper.

    Correct Answer
    C. Reservations manager.
    Explanation
    The correct answer is reservations manager. The ten-day forecast is developed jointly by the front office manager and the reservations manager at most lodging properties. This is because the reservations manager is responsible for managing and overseeing the reservations and occupancy of the property, while the front office manager is in charge of the overall operations of the front desk and guest services. By working together, they can forecast and plan for the upcoming ten days, taking into account the expected reservations and occupancy levels.

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  • 5. 

    Given the following data, calculate the percentage of no-shows. Number of room no-shows 30 Number of room walk-ins 60 Number of overstay rooms 40 Number of under-stay rooms 20 Number of room reservations 300Number of room arrivals 340 Number of expected check-outs 380.

    • A.

      10%

    • B.

      8.82%

    • C.

      7.89%

    • D.

      Cannot be determined from data

    Correct Answer
    A. 10%
    Explanation
    30/300 = 10%

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  • 6. 

    Based on the following information, determine the answer.  Number of guestrooms is 350. Number of room reservations 200 Number of room walk-ins 25 Number of room stayovers 80 Number of overstay rooms 55 Number of under-stay rooms 10 Number of expected check-outs 75 Number of room no-shows 5 Number of out-of-order rooms 1 What is the percentage of no-shows?

    • A.

      3%

    • B.

      11%

    • C.

      73%

    • D.

      13%

    • E.

      30

    Correct Answer
    A. 3%
    Explanation
    5/200 = 0.025 ~ 3%

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  • 7. 

    What is the percentage of walk-ins?

    • A.

      3%

    • B.

      11%

    • C.

      73%

    • D.

      13%

    • E.

      30

    Correct Answer
    B. 11%
    Explanation
    25/(200-5+25) = 11.3 ~ 11%

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  • 8. 

    What is the percentage of overstays?

    • A.

      3%

    • B.

      11%

    • C.

      73%

    • D.

      13%

    • E.

      30

    Correct Answer
    C. 73%
    Explanation
    55/75 = 73.3 ~ 73%

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  • 9. 

    What is the percentage of under-stays?

    • A.

      3%

    • B.

      11%

    • C.

      73%

    • D.

      13%

    • E.

      30

    Correct Answer
    D. 13%
    Explanation
    10/75 = 13.3 ~ 13%

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  • 10. 

    Trends are best described as:

    • A.

      Fashion trends

    • B.

      Patterns in the figures

    • C.

      Changing trends

    • D.

      Data variations

    Correct Answer
    B. Patterns in the figures
    Explanation
    Trends are typically used to describe patterns or changes in data over time. In this context, "patterns in the figures" refers to the visual representation of data, where trends can be observed by analyzing the patterns or shapes formed by the figures. Therefore, this answer accurately describes trends as patterns in the figures.

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