I need help solving this problem. OPTION3) Once a product is defined, what documents are used to assist production personnel in itsmanufacture?InternalEngineersExternalEngineers4) De León Engineering designs and constructs air conditioning and heating systems forhospitals and clinics. Currently, the company's staff is overloaded with design work. There isa major design project due in 8 weeks. The penalty for completing the design late is $14,000per week because any delay will cause the facility to open later than anticipated and cost theclient significant revenue. If the company uses its inside engineers to complete the design, itwill have to pay them overtime for all work. Owner Roberta De León has estimated that itwill cost $12,000 per week (wages and overhead), including late weeks, to have companyengineers complete the design. Roberta is also considering having an outside engineeringfirm do the design. A bid of $90,000 has been received for the completed design. Yet anotheroption for completing the design is to conduct a joint design by having a third engineeringcompany complete all electromechanical components of the design at a cost of $50,000. DeLeón Engineering would then complete the rest of the design and control systems at anestimated cost of $30,000.Joint DesignRoberta has estimated the following probabilities of completing the project within varioustime frames when using each of the three options. Those estimates are shown in thefollowing table:ONTIME2CHINES1 WEEKLATE5PRECOPROBABILITY OF COMPLETING THE DESIGNA3de chanttDO2 WEEKSLATE33 WEEKSLATEWhat is the best decision based on an expected monetary value (EMV) criterion? (Note: Youwant the lowest EMV because we are dealing with costs in this problem.A manufacturer of disk drives for notebook computers wants an MTBF of at least 50.000

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De León Engineering designs and constructs air conditioning and heating systems for hospitals and clinics. Currently, the company's staff is overloaded with design work. There is a major design project due in 8 weeks. The penalty for completing the design late is $14,000 per week because any delay will cause the facility to open later than anticipated and cost the client significant revenue. If the company uses its inside engineers to complete the design, it will have to pay them overtime for all work. Owner Roberta De León has estimated that it will cost $12,000 per week (wages and overhead), including late weeks, to have company engineers complete the design. Roberta is also considering having an outside engineering

De León Engineering designs and constructs air conditioning and heating systems for hospitals and clinics. Currently, the company's staff is overloaded with design work. There is a major design project due in 8 weeks. The penalty for completing the design late is $14,000 per week because any delay will cause the facility to open later than anticipated and cost the client significant revenue. If the company uses its inside engineers to complete the design, it will have to pay them overtime for all work. Owner Roberta De León has estimated that it will cost $12,000 per week (wages and overhead), including late weeks, to have company engineers complete the design. Roberta is also considering having an outside engineering

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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