INTERNET CASE STUDY Airline Pricing The practice of yield management used by hospitality firms and sports operations was started in the airline industry. All industries use the same basic premise. However, given the nature of the airline industry, it is easiest to see the concept being used as an outside observer $.$ Online travel sites such as Expedia $,$ Travelocity, Orbitz, and Kayak provide instant comparisons for most of the major airlines for domestic and International routes on given dates Choose a pair of cities in the United States and compare the one$-$way and roundtrip airfares using Kayak.com for a set of dates originating at the following times: $1$ month ahead $10$ days ahead $,5$ days ahead $,$ and $1$ day ahead $.$ Compare an overnight stay, a $5-$day stay, and a $10-$day stay for the roundtrip ticket Construct a simple booking curve for the one $-$way and roundtrip prices using the lead time $"($ how far in advance the ticket is booked $)$ and the price for three different airlines in each chart Case Study Questions and Issues $1.$ Is there any noticeable pattern based on how far in advance the ticket is booked $?$ Does the roundtrip price change based on the leth of stay $?2.$ Are there any differences between the airlines $?$ If so $,$ what are some possible explanations $?$ Are the differences consistent over the different time periods $?$ Do you think the results would be similar for any given combination of cities $($e$.$g$.,$ large or small domestic or international $,$ distance between $,$ etc. $)$Explain your answer $.4.$ Now compare your results from Kayak.com with one other travel site that was previously given $($ Expedia $,$ Travelocity $,$ Orbitz $)$ Is there any difference $?$ How would you explain it $?5.$ Is it fair for airlines to charge different customers different prices for air travel on the same airline $,$ in the same class seat $,$ on the same date and time $($i$.$e$.,$ the same flight $)?$ Why or why not $?$