Read the case and answer the questions. Please answer it long.

BEST PRACTICE IN ACTION 6.1 Pricing Seats on AA Flight 2015 Revenue management departments use sophisticated yield management software and powerful computers to forecast, track, and manage each flight on a given date separately. Let's look at American Airlines 2015, a popular flight from Chicago to Phoenix, which departs daily at 5:30 pm. for the 1,370-mile (2,200 km) journey. The 125 seats in coach (economy class) are divided into seven fare categories. called "buck- ets" by yield management specialists. There is an enormous variation in ticket prices among these seats: Round~trip fares range from $238 for a bargain excursion ticket (with various restrictions and a cancellation penalty), all the way up to $1 .404 for an unrestricted fare. Seats are also available in the small first-class section. Scott McCartney tells how ongoing analysis by the computer program changes the allocation of seats among each the seven buckets in economy class: In the weeks before each ChicagoPhoenix flight, American's yield management computers constantly adjust the number of seats in each bucket, taking into account tickets sold, historical ridership patterns, and connecting passengers likely to use the route as one leg of a longer trip. If advance bookings are slim, American adds seats to low-fare buckets. if business customers buy unrestricted fares earlier than expected, the yield management computer takes seats out of the discount buckets and reserves them for last-minute bookings that the database predicts will still show up. With 69 of 125 coach seats already sold four weeks before one recent departure of Flight 2015, Americans computer began to limit the number of seats in lower-priced buckets. A week later, it totally shut off sales for the bottom three buckets. priced $300 or less. To a Chicago customer looking for a cheap seat, the flight was "sold out".... One day before departure, with 130 passengers booked for the 125-seat flight, American still offered five seats at full fare because its computer database indicated 10 passengers were likely not to show up or take other flights. Flight 2015 departed full, and no one was bumped. Although AA 2015 for that date is now history, it has not been forgotten. The booking experience for this flight was saved in the memory of the yield management program to help the airline do an even better job of forecasting in the future. Source: Scott McCartney, "Ticket Shock: Business Fares increase Even as Leisure Travel Keeps Getting Cheaper,\" The Wall Street Journal, November 3, 1997, A1, A10. QUESTIONS TO ANSWER: 1. After reading the article, how important do you think revenue management is in ensuring your company reaches maximum profit? 2. American Airlines' revenue management department has a computer databased used for forecasting and planning their pricing strategy. What's the importance of incorporating technology to traditional or brick and mortar process