P8 Question 8A company makes beaded necklaces and spends $75,000 per year to hold beads in inventory and$55,000 per year to order the beads from the supplier. The beads fit the requirements for theeconomic order quantity inventory model. What can you say about the way this company ismanaging the inventory of beads? (Slide 22)O The company should increase the number of beads it orders per yearO The company should decrease the number of beads it orders per yearThe company should decrease its order size to decrease its holding costO The company is ordering the economic order quantityO The company should increase its order size to decrease its ordering cost

Economic order quantity = sqrt(2DS/H) where, D = Annual demand S = ordering cost H = Holding…

Answered: A company makes beaded necklaces and…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question 2 A farmer in the Blue Mountains area of Jamaica wants to decide on the crop to plant next season. He wants to plant either ganja or coffee for export to the USA but need some help. He knows that if he plants ganja and the weather in the USA is predominantly cold he earns $10,000(US per month. If the weather is warm he earns $16,000. If he plants coffee and the weather is cold he earns 13,000 and if the weather is warm he earns $14000. In 40% of the years, the weather was cold and in 60 % the weather was warm. For $600, he could buy an expert weather forecast from CWD consulting. States of Nature with Profits ($) Does not include forecast cost Decision Warm Cold weather (C) Alternatives weather(W) Ganja $16,000 $10,000 Coffee $14,000 $13000 Prior Probabilities P(W) = 0.60 P(C) = .40 Conditional probability for a given state of nature where forecasts are either Good (G) or bad (B): That is: P (G|W) = 0.80; P (B|W) = 0.20; P (G|C) = 0.10; P (B|C) = 0.90 After vou have computed…
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Question MGMT Bakehouse Inc (MBI), supplies bread, cakes and other specialty products, to a large percentage of the country; to the following customer types. Retailers e.g. supermarkets, who sell baked goods to the public, and MGMT Bakehouse Inc delivers to the retailers. Wholesalers also sell to the public, but come to MGMT Bakehouse Inc directly to collect their baked goods. Finally institutions like hotels and hospitals, to whom MGMT Bakehouse Inc delivers directly, buy baked goods to incorporate into offering for their clients e.g. guests menus and patient meal plans. From the ordering of flour and other ingredients to the processing of cash, receivables and payables, the company uses an integrated ERP with a common database for all of its business processes. Internally MGMT Bakehouse Inc is organized into the following departments: Production which bakes the bread; Distribution that delivers the bread; Sales Department where customer orders and wholesale pickups are managed;…
Question 5 The following game is played by 2 players Adam Jack Left Middle Right Up 1,2 3,5 2,1 Middle 0,4 2,1 3,0 Down -1,1 4,3 0,2 Solve the equilibrium for this game.
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QUESTION 3 J A decision tree has action a1 with outcomes s1, s2 and s3 with payoffs K8000, K10000 and -K1000 Decision a2 with outcomes s1, s2 and s3 with payoffs K3000, K6000 and -K2000 Decision a3 with outcomes s1, s2 and s3 with outcomes K10 000, -K900 and K50 Required: Find the actions that would be prescribed by the Maximax, and Maximin criterion. Explain why the action prescribed by the Maximin criterion here is potentially unreasonable from a practical viewpoint
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Question 10 Acompetitive advantage based on inimitability can be sustained for at least some time, if it has the following characteristics: Opsychographic uniqueness, path dependency, causal ambiguity, and substitutability. Ophysical uniqueness, path complexity, social ambiguity, and causal dependency. Opath dependency, causal ambiguity, rarity, and social substitutability. causal ambiguity, path dependency, physical uniqueness, and social complexity.
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Question: Formulate an IP whose solution will tell Ford how to minimize the annual cost of producing cars.

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