operation and development plan describes how product will be produced or service provided   TRUE  Or  FALS

Q: Describe a real-world application from your personal experience that you were able to better understand using the tools and concepts learned in the Operations Management course. Please be as specific as possible.

Concord, Inc. is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $12, while the cost of assembling each unit is estimated at $14. Unassembled units can be sold for $59, while assembled units could be sold for $65 per unit. What decision should Concord make? Process further; the company will save $8 per unit. Sell before assembly; the company will save $8 per unit. Sell before assembly; the company will save $4 per unit. Process further; the company will save $6 per unit.

MacDonald Products, Inc., of Clarkson, New York, has the option of (a) proceeding immediately with production of a new top-of-the-line stereo TV that has just completed prototype testing or (b) having the value analysis team complete a study. If Tyrone Martin, VP for operations, proceeds with the existing prototype (option a), the firm can expect sales to be 120,000 units at $570 each, with a probability of 0.34 and a 0.66 probability of 70,000 at $570. If, however, he uses the value analysis team (option b), the firm expects s 90,000 units at $710, with a probability of 0.74 and a 0.26 probability of 60,000 units at $710. Value engineering, at a cost of $90,000, is only used in option b. Which option has the highest expected monetary value (EMV)? The EMV for option a is $ and the EMV for option b is $. Therefore, option has the highest expected monetary value. (Enter your responses as integers.)