Macy's, as described in the case, is what type of retailer? a. category specialist b. full-line discount store c. general merchandise retailer d. specialty store e. extreme value retailer

Answers

Answer 1

Macy's, as described in the case is general merchandise retailer type of retailer.so correct option is c.

What does retailer mean?

A retailer offers goods and services to the general public directly, either in-person, online, or through a mix of the two. Retailers buy products from producers and wholesalers and resale them to clients for a profit. We can specifically name certain enormous retailers like Wal-Mart, Best Buy, and Target. These are well-known, well-known names. However, even the smallest kiosks at your neighborhood mall are used for retail. Online merchants like Amazon, Netflix, and eBay are prime examples.

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Related Questions

An organization's code of conduct is a(n) Multiple choice question. declaration of personal values. official projection of growth. written code of ethics. record of corporate business.

Answers

An organization's code of conduct is a record of corporate business. The corporate business is also known as corporation organization in which a group of company and ruled by state government.

The corporate business is an organization in which the group of individual equity holder or share-holder and company director forms a single organization and also the company which is authorized by the government of country.

To work in the corporate business in which strong relationships by the share-holder and having multiple skills.

The code of conduct is an organization is a record of any corporate business or corporation industry. The code of conduct is an rules and regulations which is followed by every individual in the particular company.

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What are the 4 phases of the business cycle and explain each?

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A profitable cycle, which is also referred to as a business cycle, has four stages: expansion, peak,  compression, and trough.

The average profitable cycle in the U.S. has lasted roughly five and a half times since 1950, although these cycles can vary.   A profitable cycle, which is also referred to as a business cycle, has four stages: expansion, peak,  compression, and trough.

The business cycle model shows the oscillations in a nation's aggregate affairs and employment over time.  Business cycles are linked to four distinct phases: expansion, peak,  compression, and trough. The business cycle model shows the oscillations in a nation's aggregate affairs and employment over time.

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Firms decide how much to invest by comparing the rate of return on their projects with:
Question 1 options:
a) the before-tax rate of return.
b) their total profit.
c) the productivity of the workers assigned to the projects.
d) the interest rate

Answers

Firms decide how much to invest by comparing rate of return on their projects with productivity of workers assigned to the projects.

What is productivity?

The effectiveness with which goods or services are produced is measured by productivity. The measure of productivity is commonly the ratio of total output to total input used in the production process, or output per unit of input, usually during a defined time period. It is common to find that the method inputs and outputs are integrated to create a ratio-style productivity indicator is the key factor contributing to variation in productivity measurements. How successfully firms and nations create is significantly influenced by productivity. A higher national production can boost living standards by making it easier for people to purchase goods and services, partake in leisure activities, improve their housing and education, and support social and environmental programmes.

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You own a portfolio that is 25 percent invested in Stock X, 40 percent in Stock Y, and 35 percent in Stock Z. The expected returns on these three stocks are 10 percent, 13 percent, and 15 percent, respectively. What is the expected return on the portfolio

Answers

Expected return on the portfolio is 12.95%

To find the expected return on the portfolio, you need to calculate the weighted average of the expected returns of each stock based on its percentage in the portfolio. This can be done using the following formula:

Expected return on portfolio = (Weight of Stock X x Expected return of Stock X) + (Weight of Stock Y x Expected return of Stock Y) + (Weight of Stock Z x Expected return of Stock Z)

Plugging in the values:

Expected return on portfolio = (0.25 x 10%) + (0.40 x 13%) + (0.35 x 15%)

Expected return on portfolio = 2.5% + 5.2% + 5.25%

Expected return on portfolio = 12.95%

So, the expected return on the portfolio is 12.95%.

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The government of Japan sets a limit on the amount of rice that can be imported from the United States. This is

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The government of Japan sets a limit on the amount of rice that can be imported from the United States. This is quota.

A quota is the set limit on how important of commodity is fairly permitted. A share is a trade limitation put in place by the government that restricts how numerous or how important plutocrat may be spent on particulars that a nation can import or export at one time.

Proportions are used by nations in transnational trade to control the quantum of trade that occurs between them and other nations. To drop significances and boost domestic product, nations sometimes put proportions on particular products. The idea of proportions is to increase home product by limiting transnational competition.

share- enforcing government enterprise are constantly appertained to as protectionism programs. Governments may also apply analogous regulations if they've reservations about the trustability or security of significances from other nations.

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What are the effects of competition in a mixed market economy?

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The competition in the mixed market has a positive impact through the economy. That kind of competition will foster an environment of efficiency and also innovation.

In economic and business, A mixed market or also known as mixed economy generally can be defined as one that incorporates the principles of a capitalist free market to allow for private economic freedoms. Mixed market has a principle that attempts to compensate negative effects of economic freedom to ensure or improve the social good. One of the benefit from mixed market is that each companies will compete for creating better products or services for consumers.

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Which visual merchandising strategy can help you demonstrate how products can be

combined? (Select the best answer. )

Packaging

Props

Platforms

Displays

Answers

Visual merchandising strategy can help you demonstrate how products can be combined as Displays. Option D is correct

Visual merchandisers present, arrange, and display goods in shops and storefront windows, which are important locations where buyers can view, choose, and purchase goods. The position was created in the 19th century, but it has only recently expanded and become crucial in the fashion sector.

Display * is the term used to describe the aesthetic and visual elements of displaying a product to a target market of consumers. Contrarily, visual merchandising covers all aspects of the corporate environment that are artistic and visually appealing. display. the aesthetic and visual elements involved in presenting a product to a specific market of consumers.

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Sarah is a recent u. S. College graduate who is interested in starting an import tea business. If she follows through with her plans, she will be a pioneer, because only a handful of women choose to start businesses in the u. S

Answers

If a nation imports more than it exports, it is in a trade surplus; if it exports more than it imports, it is in a trade deficit.

What percentage of US businesses are owned by women?

About 15% of all businesses in the US are owned by women.

Women are the owners of 42% of all U.S. enterprises (13 million). Over 9.4 million people work for companies owned by women. Women are three percentage points more likely than men to launch a business.

A country experiences a trade deficit when it imports more than it exports, but a trade surplus occurs when exports outpace imports.

Basically, the cheaper labor costs in China and American demand for the products made there are what lead to the trade deficit with that nation. Computers, mobile phones, clothing, toys, games, and sporting items are the most popular categories of Chinese imports into the United States.

Therefore, the statement is false.

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A nation is in a trade surplus when it imports more than it exports; It is in a trade deficit if it imports more than it exports.

How many women own businesses in the United States?

Women own about 15% of all businesses in the United States. 42% (13 million) of all U.S. businesses are owned by women. Over 9.4 million people are employed by women-owned businesses. Launching a business is three percentage points more likely for women than for men. A country has a trade deficit if it imports more than it exports, whereas a country has a trade surplus if exports outnumber imports.

The trade deficit with China is essentially caused by American demand for Chinese-made goods and cheaper labor costs. The most popular Chinese imports into the United States are sporting goods, clothing, mobile phones, computers, games, and toys.

As a result, the assertion is incorrect.

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why did india put barrier o foreign trade and investment afetr independance , why was the policy changed in 1991

Answers

This was sought to shield domestic producers from competition from abroad. to safeguard this same Indian economy form foreign espionage in sectors that could hinder the country's intended economic expansion.

What is the straightforward meaning of economy?

Whether an entity is a country or a small town, an economy includes everything that is activities connected to the supply, procurement, and trade of products and services in that entity. Every economy is different. Each is shaped by the resources, laws, cultures, histories, and geographies that are unique to it.

Which are some instances of economy?

The traditional economy, which uses a country's traditions and history to direct the distribution of goods, is a well-known illustration of an economy. The main pillars of traditional economies are agriculture, hunting, and hunting.

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which of the following types of business intelligence users is considered a power user?

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Which of the following groups of business intelligence users fits the definition of a power user? business analysts. A facilitates decision-making.

What business intelligence entails

Business intelligence includes business analytics, data mining, data visualisation, data tools and infrastructure, and best practises to support organisations in making more data-driven choices. In actuality, you can tell if you have current business intelligence when you can leverage your organization's data to drive change, eliminate inefficiencies, and react rapidly to supply or market changes. Flexible self-service analysis, controlled data on reliable platforms, empowered business users, and speed to insight are prioritised by contemporary BI solutions.

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If gross income on a property is $84,000, net income is $40,000 and the cap rate is 7%, the value of the property using the income capitalization method is

Answers

Using the income capitalization technique, the property is worth $571,428.57.

How do you calculate the value of a property using the Income Capitalization Method?

The Income Capitalization Method is a commonly used method to estimate the value of a property using the net income generated by the property and the capitalization rate (cap rate).

The formula to calculate the value of a property using the Income Capitalization Method is:

Property value = Net income / Cap rate

In this case, the net income is $40,000 and the cap rate is 7%. So, the calculation is:

Property value = $40,000 / 0.07

= $571,428.57

So the value of the property using the income capitalization method is $571,428.57

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Marlena is putting together a focus group to obtain feedback on the new juice product her company plans to launch next year. A focus group is a type of research. (Qualitative or Quantitative)

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A focus group is a type of qualitative research. Qualitative research is used to understand underlying motives, opinions and attitudes. It serves to explore and gain a deeper understanding of the given issue.

Focus groups are conducted with a small group of people who meet to discuss a specific topic. In Marlena's case, the target audience will provide her company with invaluable feedback about her new juice product. This type of research will give them an inside look at the thoughts and opinions of the people most likely to be interested in the product, which can help them make decisions about the design, marketing and pricing of the product.

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Diapers are a product category in the maturity stage of its product life cycle. This means that the manufacturers of diapers:

Answers

This indicates that diaper producers are expanding their product lines.

Which of the following is an illustration of a potential asset?

Personal assets are items with current or potential worth that belong to an individual or family. Cash and cash equivalents, CDs, checking and savings accounts, money market accounts, tangible cash, and Treasury bills are typical types of personal assets.

What is the capacity of the Company to expense Fixed Assets over the Life of the Asset?

Companies can deduct a percentage of long-term operating assets used in the current year thanks to the accounting practice of depreciation. It is a non-cash item that boosts net income while also assisting in balancing revenues and spending during the fiscal year.

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Your local bank offers free checking for accounts with the balance at least of $500 Suppose you have a balance of $516.46 and you write a check for $31.96 How much do you need to deposit to avoid being charged of service fee

Answers

To avoid charges, I must deposit $15.50. Checking accounts are ones that let you deposit and withdraw money. But verification is necessary to access the account.

Free checking is available from the neighbourhood bank for accounts with at least a $500 balance.

If I have $516.46 in my account and I wish to write a check for $31.96 to avoid fees, I must deposit:

$516. 46 - $500 = $16.46

The extra money to avoid charges is $16.46, but since I want to check more than that, I will deposit $15.50 instead.

$31.96 - $16.46 = $15.50

Depositing $15.50 will convert the additional funds to $31.96. I won't be charged because my balance will be at least $500 when I withdraw $31.96.

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Wine and Roses, Inc. offers a 7 percent coupon bond with semiannual payments and a yield to maturity of 7.73 percent. The bonds mature in 9 years. What is the market price of a $1,000 face value bond?

Answers

Bonds are currently valued at $953.29 on the open market.

Bond market value equals the present value of the bond's face value plus the present value of its coupon payments.

PV of face value is equal to $1,000 / (1 + 3.86%).

¹⁸ = $505.31

Coupon payments' PV equals $35 multiplied by 12.79935 (PV annuity factor, 3.865%, 18 periods) to arrive at $447.98.

$953.29 is the current market price ($505.31 plus $447.98).

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Using ________ trend extrapolation, you draw a line to fit the past sales data and project it into the future to give the forecast values.

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Using  linear trend  extrapolation, you draw a line to fit the past sales data and project it into the future to give the forecast values. Creating a tangent line at the end of the known data and linear extending.

It past that point is known as linear extrapolation. Only when utilised to extend the graph of a roughly linear function or not too far beyond the existing data will linear extrapolation yield good results values. One component of the broader discipline of trend (or trendline) analysis is trend extrapolation. It virtually always aims to forecast future values with some degree of likelihood by extending known data points to regions outside the timeframe of known data points. The presumptions, however, are crucial.

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Which of the following is not a characteristic of a fund as defined by GASB standards?
Multiple Choice
O A self-balancing set of accounts.
O A reporting entity.
O A fiscal entity.
O An accounting entity.

Answers

A reporting entity is not a characteristic of a fund as defined by GASB standards.

What are funds?

A fund is a pool of money that is allocated for a specific purpose. A fund can be established for many different purposes: a city government setting aside money to build a new civic center, a college setting aside money to award a scholarship, or an insurance company that sets aside money to pay its customers’ claims.

What are the three categories of funds prescribed by GASB standards?

Funds that are prescribed by GASB standards are:

Governmental funds.

Proprietary funds.

Fiduciary funds.

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What is a policy of limited government trade restrictions?

Answers

Protectionism refers to government programs that circumscribe transnational trade to help domestic diligence.

Protectionism programs are generally enforced to ameliorate profitable exertion within a domestic frugality but can also be enforced for safety or quality enterprises.  

Governments have three primary means to circumscribe trade share systems; tariffs; and subventions. A shared system imposes restrictions on the specific number of goods imported into a country. Share systems allow governments to control the significance volume to help cover domestic diligence.

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Which of the following is not an example of next-generation enterprise applications?
A) open-source solutions
B) on-demand solutions
C) solutions incorporating SCM
D) solutions incorporating SOA

Answers

Solution incorporating SCM  is not an example of next-generation enterprise applications.

Option C is correct.

What are next-generation applications?

Modern apps are built using a new methodology called Next Generation Application Development and Maintenance (ADM). Next-gen ADM is a concept aimed at aligning the process of building and running apps with broader business goals and extending the life of apps, perhaps indefinitely.

Why you need an enterprise application?

Enterprise applications are designed to integrate systems across the enterprise and streamline workflows. They create links between different departments. Employees should view them as useful tools that run on her mobile device. It can be customized to meet your company's specific needs, improving work efficiency.

What are his three types of enterprise systems?

Currently, there are mainly three types of his in enterprise systems. Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Supply Chain Management (SCM).

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Which of the following is NOT one of the three ways for companies to set prices?
a. medium prices
b. high prices
c. low prices
d. discretionary prices

Answers

Answer:

D. discretionary prices is the answer.

Explanation:

What are the advantages and disadvantages of market economic system?

Answers

Benefits of a  request frugality include increased effectiveness,  product, and invention. Disadvantages include monopolies, no government intervention, poor working conditions, and severance.  

Advantages A wide variety of quality goods and services will be produced as different enterprises will contend with satisfying consumer wants and making gains. Quality is assured to make sure that consumers buy from them. There's consumer sovereignty.  

Command frugality advantages include low situations of inequality and severance and the common ideal of replacing profit as monopolies. Command frugality disadvantages include a lack of competition, leading to a lack of invention and effectiveness.

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What are the 3 economic questions about production and distribution of resources that each nation must address?

Answers

Any method of allocating limited resources is an economic system. Three fundamental problems are addressed by economic systems: what will be produced, how will it be produced, and how will society distribute the output it generates?

These queries can be answered in one of two ways, at either extreme. The government makes judgments in command economies about the distribution of resources as well as the distribution of production and consumption. Markets are used to organize the factors of production and consumption in market economies, when private ownership of resources is established through property rights. In a market economy, resources are distributed according to the most productive usage by market pricing.

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According to the liquidity preference model, if the interest rate rises above its equilibrium value, the quantity demanded of nonmonetary interest-bearing financial assets ________ and this leads to a ________ in the interest rate.

Answers

According to the liquidity preference model, if the interest rate rises above its equilibrium value, the quantity demanded of nonmonetary interest-bearing financial assets increases and this leads to a fall in the interest rate.

According to the Liquidity Preference model, investors should expect a higher interest rate or premium for riskier securities with extended maturities because, when all other things are equal, they favour cash or other highly liquid investments. Macroeconomic theory defines liquidity preference as the demand for money taken into account as liquidity. It demonstrates the connection between interest rates and the amount of money that the population wants to hold. According to the Liquidity Preference Theory, the interest rate is the cost of borrowing money.

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Blake Haddon, Cyrus Oldsmen, and Graham Piper work for Aragon Foods. They work long hours for which they have quite a bit of overtime. In the initial employment contract, which is in writing, the contract stated that each person would be paid an hourly rate of $15.00 and anything over 40 hours would be paid at time and a half. During the first two years of the contract, there were times when Blake, Cyrus, and Graham were not paid their overtime. However, two years after they all had started, Aragon Foods had each of the employees sign a new employment contract where they would work for a salary of $40,000. The contract expressly stated that they did not get overtime. Blake, Cyrus, and Graham want to sue for the overtime that they were never paid. What effect does the new contract have, if any, on the first employment agreement

Answers

Novation refers to a form of discharge by agreement. When a new contract replaces or substitutes the old contract between the parties to the contract with new obligations by discharging or extinguishing the previous contractual obligations.

Employment is a relationship among parties regulating the availability of paid exertions services. normally, based on a settlement, one birthday celebration, the organization, which is probably a company, a now not-for-income enterprise, a co-operative, or another entity, pays the alternative, the worker, in return for carrying out assigned paintings. employees work in go back for wages, which may be paid on the basis of an hourly price, piecework, or an annual salary, depending on the sort of work an employee does, the triumphing situations of the world, and the bargaining strength between the events.

Employees in a few sectors might also receive gratuities, bonus payments, or stock alternatives. In a few kinds of employment, employees might also acquire blessings in addition to price. Blessings may additionally consist of health insurance, housing, and disability insurance. Employment is typically ruled by way of employment laws, agencies, or criminal contracts.

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Which of the following is not a reason people choose to depend on others for goods and services?
a. To improve their lives
b. To allow them to enjoy a greater variety of goods and services
c. To consume more of each good without working any more hours
d. To allow people to produce outside their production possibilities frontiers

Answers

The choice d is correct. to let people produce outside the boundaries of their production possibilities.

The Production Possibility Frontier (PPF): What Is It?

A curve on a graph called the production possibility frontier (PPF) depicts the potential quantities of two products that can be produced from the same finite resource. Additionally known as the production possibility curve, the PPF

In economics, PPF also plays a crucial role. It can, for instance, demonstrate that a nation's economy has achieved maximum efficiency.

A company can plot points on a graph to represent the number of products made with variables based on the amounts of resources available when deciding how much of each product to produce. Keeping in mind that resources are limited, resources must be diverted from one product to produce more of it.

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What is President Roosevelt's stated purpose for issuing this executive order?

Answers

Franklin D. Roosevelt signed this order on February 19, 1942, allowing the transfer of all individuals deemed to pose a threat to the nation's security from the West Coast to locations further inland.

The 32nd president of the United States, Franklin Delano Roosevelt, also referred by his initials FDR, was an American politician and attorney who presided over the country from 1933 until his passing in 1945. He became a key player in world affairs throughout the first half of the 20th century while serving as the head of the Democratic Party and winning a career high four presidential elections. The bulk of the Great Depression was under Roosevelt's guidance as he pursued his New Deal domestic agenda in response to the worst economic catastrophe in American history. He established the New Deal Coalition, which for the middle third of the 20th century in the US characterized modern liberalism. The World War 2, which came to a close just after he past away in office, dominated his third and fourth tenure. He was raised in Hyde Park, New York, where he was a member of the well-known Roosevelt family. He graduated from the Groton School, Harvard College, and Columbia Law School, which he left after passing the bar test to begin his legal career in New York City. He wed Eleanor Roosevelt, his fifth cousin once removed, in 1905. Five of the six children they had and brought to adulthood.

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an example of a capital good is ____________.

Answers

Answer: Vehicle(s)

Explanation: Capital goods are all man-made, if they aren't naturally occurring it is often that they are a capital good

Read the quotation above, an excerpt from a speech by a U.S. public official. The statement most directly reflects which of the following economic principles and contradicts which other?

Answers

The claim directly contradicts Adam Smith's theory of free enterprise and John Maynard Keynes' notion of government responsibility.

Reflects:

Given that "In the long run, we are all dead," as he put it, Keynes suggested that governments should address issues now rather than waiting for market forces to do so. This does not imply that Keynesians support periodic policy adjustments to maintain full employment.

Contradicts:

Adam Smith was one of the first thinkers of his era to assert that money is produced via labor that is productive and that individuals are driven by self-interest to make the most use of their resources. He believed that capital investments generated profits, and that capital is allocated to projects where the greatest profits can be realized.

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Is an 800 credit score possible?

Answers

Despite the fact that both the FICO and Vantage Score credit scoring systems have a maximum score of 850, you don't actually need to reach 850 to enjoy the same advantages as people with perfect credit. You have a very strong credit history if your FICO score is 800.

How is it possible?

A credit score of 1,000 is not attainable because credit scoring models do not support it. Experian asserts that some credit scoring methods can get scores of up to 900 or 950, but they are institution-specific ratings that are only used in that industry.You most likely need a credit score of at least 580 to qualify for a $1,000 personal loan. Most lenders who provide personal loans of $1,000 or more accept borrowers with poor credit or better if they have enough income to meet the loan's monthly payments.Generally speaking, in order to be eligible for a loan to buy a property, your credit score must be at least 620. The majority of lenders have that minimal credit score for a standard loan.

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Read the short case on ‘two very different hotels’ in Slack et al. (2014, p. 24 - 25) and write a response to the following questions.


1. For each hotel, what is the role of technology and the role of the operation’s staff in delivering an appropriate level of service?


2. What are the main differences in the operations management challenges facing the two hotels?

Answers

Hotel 1: The role of technology in delivering an appropriate level of service for Hotel 1 is to provide efficient processes and systems that enable the hotel to run smoothly and efficiently.

Technology is used to automate many of the operations processes, such as booking and check-in, as well as providing the hotel with a secure and reliable online presence. The operation’s staff are responsible for managing the day-to-day operations of the hotel, such as housekeeping, customer service, and maintenance. They are also responsible for providing a personalized service to guests, ensuring that the hotel is providing a high level of service and meeting customer expectations.

Hotel 2: The role of technology in delivering an appropriate level of service for Hotel 2 is to provide a platform to facilitate the personalized service that the hotel is offering. Technology is used to enable the hotel staff to provide a tailored experience to each guest, such as being able to customize the menu, music, and other aspects of the guest experience. The operation’s staff are responsible for managing the day-to-day operations of the hotel, as well as providing a personalized service to each guest. They are also responsible for ensuring that all aspects of the hotel’s operations are running smoothly and efficiently.

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What is 1 percent of the US population? In his 2011 state of the union address, president barack obama said: "to attract new businesses to our shores, we need the fastest, most reliable ways to move people, goods, and informationfrom high-speed rail to high-speed internet. our infrastructure used to be the best, but our lead has slipped. the jobs created by the transcontinental railroad simplify square root of 3y^2 if y Given that a function, g, has a domain of -20 x 5 and a range of -5 g(x) 45 and that g(0) = -2 and g(-9) = 6, select the statement that could be true for g. A. g(0) = 2 B. g(-4) = -11 C. g(7) = -1 D. g(-13) = 20 g. Eight of the fourteen points were aimed at resolving what issues? (5 points)I Which store has the lowest cost per pound for hamburger? Name of Store Hamburger package sizes (lbs) Cost per package ($) Food King 8.0 pounds $40.00 Thrifty Mart 0.5 pounds $3.00 Shop More 5.0 pounds $35.00 Super Save 1.5 pounds $10.50 What does the expression living the life mean? how do i do this qution Triangles a and b are right angled. show that the two shorter sides in triangle a have the same length as the two shorter sides in triangle Bi got 2/4 of the marks pls help What did the Declaration of Independence say the king violated? List three changes inthe way goods weremade during the early1800s. Which is associated with a particular category of patient and is established by the payer prior to the provision of health care services How do you calculate lever arm in torque? What is the BMI formula for BMI calculation? Why would its inhabitants want to create a separate state of West Virginia? gertrude belle elion was born on jan. 23, 1918, in new york city. she graduated from hunter college in new york city with a degree in biochemistry in 1937. unable to obtain a graduate research position because she was a woman, she took a series of jobs, including lab assistant, chemistry and physics teacher in new york city high schools, and research chemist. during this time she also took classes at new york university, where she earned a master's degree in 1941. because she could not devote herself to full-time studies, elion never received a doctorate.how does the author organize information in this article to create a clear main idea A(n) ____ is a central computer that enables authorized users to access networked resources.A) peripheralB) serverC) applicationD) LAN Brie bought a rug for her bedroom. The area of the rug measures 25 square feet. Her bedroom is ten feet wide and twelve feet long. Using the given measurements, what is the amount of her bedroom NOT covered by the rug If a ball is travelling in a circle of diameter 10m with velocity 20m/s, find the angular velocity of the ball. A standard deck of 52 cards has 13 ranks (Ace, 2, 3, 4, 5, 6, 7, 8, 9, 10, Jack, Queen, King) and 4 suits ($\spadesuit$, $\heartsuit$, $\diamondsuit$, and $\clubsuit$), such that there is exactly one card for any given rank and suit. Two of the suits ($\spadesuit$ and $\clubsuit$) are black and the other two suits ($\heartsuit$ and $\diamondsuit$) are red. The deck is randomly arranged. What is the probability that the top card is a $\heartsuit$