Introduction to Hospitality and Tourism Management
Instructions: You are required to answer the following questions. You should save your answers in a Word document for submission. Please do not repeat the questions on
your answer sheet. Instead, please list the answers numerically/sequentially by simply utilizing 1, 2, 3, and 4. Each assignment must have a cover page listing your
name, the name of the assignment, and the date. The cover page does not count towards the word count. For each assignment, you are expected to answer the assigned
questions in your own words. Each assignment paper should be at least 250 words. Papers less than the required 250 words will get zero. This does not mean each
question requires a 250-word response; rather, the total number of words for answering the questions must total more than 250 words.
Why is the concierge an essential part of the personality of a hotel?
Explain the importance of accident and loss prevention. What security
measures are taken to protect guests and their property?
List the measures used to determine the food and beverage department’s
profit and loss.
Explain the problems a hotel faces in making the following departments
profitable: restaurants, bars, and room service.
As the risk management of a small chain of restaurants, you are analyzing the losses incurred over the last 10 years. Using these data, calculate the:
Years Losses
Years 1-2 1200
Year 3 1000
Years 4-6 800
Year 7-8 500
Years 9-10 100
Expected value of losses
Variance
Standard Deviation
Coefficient of Variation
In what (approximate) range should losses fall 95 percent of the time?
