Exam 8: Financial Control and Information Management

There are seven guidelines that influence the effective management data-mining technology. Which of the following was not listed as one of the seven?

The purchasing manager of a hotel usually reports to the general manager.

The average workweek for a purchasing manager is 40 to 45 hours and rarely includes weekends.

One of the many skills required of a controller is that of an administrator?

As is the same with all other managerial roles, the controller must have many skills, which are used daily. As such, the controller is responsible for partaking in many roles. Which of the following was not a role listed in the article?

Some of the most-common analytical tools used by data-mining software include regression models, factor analysis, and cluster analysis.

About ½ of the respondents of the study indicated that they try to maintain actual food, beverage, and labor costs within the range of 1 to 2 percent of the budgeted amounts.

According to the article, problems with data are usually related to one or more different shortcomings. Which of the following was not one of the listed shortcomings?

The lodging financial executives strongly agreed that the most important key to leadership was "trusting your subordinates".

It was found in this study that most controllers are older than ____ years old.

Data mining offers enormous benefits in terms of __________.

A criticism, from many researchers, of data-mining is that it is not a useful technique to detect non-obvious, and previously unknown patterns or data trends.

It is essential that the purchasing manager develop close working relationships with key managers within the hotel. According to the article, these relationships should build and demonstrate ___________.

What is the most common reason hoteliers use budgets, according to the article?

Up until the 1980's various tax benefits were the primary reason for the construction of U.S. hotels.

Key managers within a hotel that a purchasing manager must develop a close working relationship with includes:

Although data mining has been shown to be extremely beneficial is conducted properly, that are limitations of data-mining technology. Which of the following was not one of the limitations listed by the authors?

C. Lee Evans provided examples of day-to-day interactions that occur between the purchasing manager and key managers. Which of the following was not listed as one of the key managers?

CHTP is an acronym for which of the following?

According to the article, there are a number of analytical tools that can be employed to transform data into useful information. Which of the following is a common statistical technique?