(a) Develop an opportunity loss table. (b) What is the minimax regret decision?
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- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. Ethical decisions that affect a buyers ethical perspective usually involve the organizational environment, cultural environment, personal environment, and industry environment. Analyze this scenario using these four variables.Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?
- Determine which factor of production is needed in the following problem. 1.The ABM manufacturing Co.hired a gardener.He uses a lawn mower for landscaping.Which factor of production would you consider this machine? 2.The owner of the company withdrew cash for the salaries of thw employees.which factor of production would you consider cash on hand? 3.The top manager of the firm said "the great ideas,consepts and emotional determination of a person to produce something that consumers want to buy" is very important for the company.What factor of production describes the ability to create great ideas? 4.The farmers planted pineapple cutting in the vacant area located in their locality.Which factor of production would you consider a pineapple plantation?S9. A Co-operative bank QLB grants loansunder the following conditions. -(a) If customer has an account witbank and has no loan outstandingwill be granted.(b) If customer has an account with thebank but some amount is outstandingfrom previous loan, then loan will begranted if special arrangementapproval is obtained.(c) Reject loan applications in all other cases. Draw Decision Tree and Table for the bank . This under System Analysis and Design.The idea of RZ and the idea of NRZ-L are combined into the ________ scheme. a. Manchester b. differential Manchester c. both (a) and (b) d. neither (a) nor (b)
- Hart Manufacturing makes three products. Each product requires manufacturing operations in three departments: A, B, and C. The labor-hour requirements, by department, are as follows: Department Product 1 Product 2 Product 3 A 1.50 3.00 2.00 B 2.00 1.00 2.50 0.25 0.25 0.25 During the next production period, the labor-hours available are 450 in department A, 350 in department B, and 50 in department C. The profit contributions per unit are $25 for product 1, $28 for product 2, and $30 for product 3. The setup costs are $400 for product 1, $550 for product 2, and $600 for product 3. At most, 175 units of product 1, 150 units of product 2, and 140 units of product 3 can be produced. Part a Formulate a mixed-integer linear programming model (identify and define decision variables, objective function and constraints) that can be used for maximizing total profit contribution. For “Part a" you do NOT need to solve this problem using Excel, you just need to do the formulation in the standard…a. Explain the following as used in Decision support system ▪ Simulation ▪ Artificial intelligence ▪ Mathematical models and AlgorithmsExplain Hhow does sustainability align with an organization's long-term strategic goals and objectives?
- Judd 57 Joel Gus Tim $3 2. 1 $5 $2 First film Second film Third film Fourth film Fifth film 1. 0. 0. 5. 2. 1 a. Within the dorm room, is Ux showing of a movie a public good? Why or why not? b. W itcosts S5 to rent a movic how many movies should the mommates rent to maximize tothl surplus? c. li they choose the optimal number from part (b)and then split the cost of renting the movies equally, how much surplus does.cach person obtain from wakhing the me d. s there any way tospl ost.tormsre that everyone benefits? What practical problems does this solution reise? Suppose they agmeinarancetochoxxe the efficient number and to split the cosr of the movies equally. When fudd is asked his wiling ness to pay, will he have an incentive to toll the Iruth? If so, why? f not. what will he he tempted (1అ) బ* E What does this example teach you abou the optimal provision of public goods? yol public gods?Distance traveled (in kilometers per day) of 5 selected sales persons; 100, 112, 118, 120, 120. Determine the MAD.menty F och the fustig the last dat? 4 3 2 BO JUL 13 e) P/ first ¹6'an 5th, 4. What is the probability that a randomly chosen integer between 1 and 40 is not a perfect square? Probability Ⓒ o th tv ♫ tocc) // 5 \ 4 / 1 \ ' 7.5/55(1)] 91 Qv Search 2 8 A Ⓒ