What member of the Hall of Honor of the Conrad Hilton college gave yield management its name?
Yield management Yield management is a variable pricing strategy, based on understanding, anticipating and influencing consumer behavior in order to maximize revenue or profits from a fixed, time-limited resource (such as airline seats or hotel room reservations or advertising inventory). As a specific, inventory-focused branch of revenue management, yield management involves strategic control of inventory to sell it to the right customer at the right time for the right price. This process can result in price discrimination, in which customers consuming identical goods or services are charged different prices. Yield management is a large revenue generator for several major industries; Robert Crandall, former Chairman and CEO of American Airlines, gave yield management its name and has called it "the single most important technical development in transportation management since we entered deregulation."
Francis X. Schumacher F.X. Schumacher (March 14, 1892 – June 3, 1967) was a prominent forest biometrician. He served on the forestry faculty at The University of California before being called to work as chief of the section forest measurements, U.S. Forest Service. His interest in statistics led him to an affiliation with R.A. Fisher, and Schumacher led early advances to adopt statistical methods in forest inventories and silvicultural research. He joined the faculty of the Duke Graduate School of Forestry as one of its original seven faculty members. He co-authored textbooks on forest mensuration and sampling with other notable forest biometricians Donald Bruce and Roy A. Chapman. He was the first to apply the equation form "Y = e", widely known as the Schumacher equation, to timber growth and yield modeling.