(Using the same problem) A vendor for the local ballpark food stand is questioning whether to stock his concession with a large or small inventory. He believes that it will depend upon the size of the crowd. He has developed a payoff matrix for the various alternatives (stocking decision) and states of nature (size of crowd). What is the answer using the criterion of realism (hurwicz) with an alpha of .7? Alternatives Large Inventory Small Inventory Probability OA) $61,500 OB) $130,000 OC) $64,600 OD) $23,500 O E) $153,400 Large Crowd $220,000 $90,000 .20 PROFIT (S) Average Crowd $50,000 $70,000 .50 Small Crowd -$2,000 -$5,000 .30
Q: c. How many weeks will it take to complete the project? Number of weeks 33 d. How much slack does…
A: For each activity, I am given the immediate predecessor data and the time data, I will construct the…
Q: A production line at V. J. Sugumaran's machine shop has three stations. The first station can…
A: The maximum rate with which the station can generate output is called the capacity of the…
Q: Have you ever observed when someone was a manager and do not value different cultural backgrounds?…
A: Here, I will discuss the impact of not valuing the cultural backgrounds of other employees, next, I…
Q: Melissa's Photo Studio offers both individual and group portrait options. The process flow diagram…
A: A bottleneck is a step or a stage in a production process that causes a major amount of delay or…
Q: a. Construct an A -chart for this process with Two Sigma limits. (Round the final answers to 2…
A: n= 6Standard deviation (s) = 0.162Number of samples = 39
Q: The Morning Brew Coffee Shop sells Regular, Cappuccino, and Vienna blends of coffee. The shop's…
A: Multifactor productivity is used by the organization to determine the overall efficiency of the…
Q: Develop a concept paper outlining the ITS planning process you will follow to mitigate a critical…
A: Intelligent Transportation Systems Planning (ITC Planning) is the strategic organization and…
Q: Create a weighted scoring model to determine grades for a course. Final grades are based on three…
A: A weighted scoring model, also known as a weighted scoring system or weighted decision matrix, is a…
Q: Explain the importance of proactive vs. reactive system management approaches.
A: The decision between proactive and reactive techniques in system management and maintenance has a…
Q: What are some potential problems with closely tying employee pay to company performance?
A: Employee pay to company performance is a compensation method where the employees are paid well if…
Q: Triton Submarines LLC offers small submersibles that can take up to three individuals 1,000 m deep…
A: Decision-making analysis is the approach or aspect that includes the systematic and well-structured…
Q: In Continuous manufacturing system, we need: Special purpose machines and Skilled labours Highly…
A: High volumes of a single product or product line may be produced continuously using continuous…
Q: The combination labor and delivery rooms labor rooms had the highest utilization rate of delivery…
A: For each situation, I will determine the utilization rate, Next, I will find a specific option with…
Q: Which
A: Intermediary channel members, such as distributors, wholesalers, and retailers, are crucial in the…
Q: Find the below table which shows the task time. The Maximum output of the company is 240 bottles per…
A: Project schedule helps in calculating different values related to the production cycle like the…
Q: How does CRM integration with other business systems, like ERP and marketing automation, enhance its…
A: CRM integration can be defined as the process of linking a Customer Relationship Management (CRM)…
Q: Explain the concept of Quality Assurance (QA) in the context of website outsourcing and its…
A: Quality Assurance (QA) is a crucial aspect of website outsourcing that plays a pivotal role in…
Q: "A chipboard company has 4 factories, Mazatenango, Retalhuleu, Escuintla and Xela. It has four major…
A:
Q: The likely be used to describe the distribution of time between arrivals of customers at the grocery…
A: Arrival time plays a very important role in transportation and logistics by planning and scheduling…
Q: Describe the main tasks involved in operations management
A: Operations management is the process of planning, organizing, and controlling processes and…
Q: The stationary shop estimates that the average demand for a popular ball-point pen is 12,000 pens…
A: In this situation, I will determine the safety stock,
Q: Based on your own observations, identify a term or phrase in the workplace that creates semantic…
A: Workplace semantic problems refer to issues connected with the importance, translation, or…
Q: What tools does Human Resource Development (HRD) use?
A: HRD fosters the key skills that empower people in associations to perform current and future…
Q: Which party is usually the receiver of the shipment as named on the official shipping documents?…
A: Shipping and logistics act as significant players in providing the efficient shipment of products…
Q: Hart Manufacturing makes three products. Each product requires manufacturing operations in three…
A: Find the given details below:DepartmentProduct 1Product 2Product…
Q: A textile mill buys its raw materials from a vendor. The annual demand of the raw material is 9,000…
A: Annual demandD9000Ordering costS$100Carrying cost (per unit per month)H20%Purchase price per unitp$1
Q: A dress buyer for a large department store must place orders with the dress manufacturer 9 months…
A: Note:Since you have posted a question with multiple sub parts, we will provide the…
Q: You have a series of tasks and duration in front of you. Your lab is to determine the Critical Path…
A: A project schedule is created using the two-pass method, a scheduling methodology in project…
Q: A fabrication cell at Spradley's Sprockets uses the pull method to supply gears to an assembly line.…
A: Requirement (D) = 394 gears per dayContainers = 0.5One containers = 0.9Lead time (L) = 0.5+0.9 = 1.4…
Q: Need ten good MBA thesis titles
A: An MBA thesis is a document or report prepared by MBA (Master of Business Administration) students…
Q: 1. Xara Stores in the United States imports the designer-inspired clothes it sells from suppliers in…
A: Linear programming is a mathematical optimization technique used to find the best possible outcome…
Q: from: small and medium. There are two flavors to choose from: chocolate and strawberry. There are…
A: Tree Diagram:A graphical representation used to show all possible outcomes and their relationship in…
Q: Discuss the challenges associated with service quality management and strategies for delivering…
A: Services form an important part of the offering that is provided to the customers. There are several…
Q: Location Location Location a: (5,6) b: (1,5) c: (3,8) d: (7,4) Location Location e: (5,9) Weekly…
A: The following information about the weight shipped and their locations are…
Q: f. Suppose OfficeMax is able to cut the lead time to a constant 3 weeks. The new safety stock level…
A: Note:only sub parts-(f) has been answered as mentioned in the question (f)Continuous review- fixed…
Q: ommunication Equipment Two sectors of the U.S. economy are (1) audio, video, and communication…
A: An input-output matrix, also known as an input-output table or IO table, is a structured…
Q: With reference to the article above, write an office memo of 400-550 words, discussing the defensive…
A: Here, I will first create an office memo, In this memo, I will also discuss the specific defensive…
Q: Solve the below Linear program and find the optimal solution from the below options: Minimize z = 2x…
A: Linear programming (LP) is a mathematical optimization technique that helps solve problems where an…
Q: An average of 1200 parts arrive to the EP chamber during an 8-hour workday. Each part goes through…
A: For each part:1. Processing time at the first station: 15 seconds2. Processing time at the second…
Q: Weekly income for Quiet Mental Breakdown, an online psychology firm, is provided below. Determine,…
A: Here, for each week, I am given the income data, I will use a three-period and four-period simple…
Q: Explain qualitative forecasting
A: Qualitative forecasting methods utilize subjective judgment, expert opinions, and qualitative data…
Q: Schedule the Following Activities using CPM: 15 Duration of the project is: ID A B C D E F G H None…
A: The critical path is a fundamental concept in project management, It refers to the longest sequence…
Q: Waldo sells pre-packaged lunches to construction workers at a Peachtree Street construction site…
A: Order quantity refers to the number of units or items of a particular product that a business or…
Q: Determine the minimum distance required to connect all nodes in Figure 4.
A: The minimum distance required to connect all the nodes is 4+5+3+4+4+6 = 26.So Option C is correct…
Q: M&D Chemicals produces two products that are sold as raw materials to companies manufacturing bath…
A: Linear programming (LP) is a mathematical optimization technique to find the best outcome in a…
Q: Consider the following information for a project to add a drive-thru window at Crestview Bank. a.…
A: Project completion time refers to the duration that is taken by a company to finish a specific…
Q: Explain how machine learning and AI technologies are integrated into modern system management…
A: System management strategies help in planning, organizing, and controlling various elements within…
Q: Which of the following is false about the Vogel's Approximation Method? O Provides appropriate…
A: The Vogel's Approximation Method (VAM) is an algorithm used in transportation and distribution…
Q: a) Draw the appropriate AON Network diagram for J.C. Howard's management team. b) Find the critical…
A: Critical Path Method is a project management method that is used to plan, schedule, and manage…
Q: Tim Urban, owner/manager of Urban's Motor Court in Key West, is considering outsourcing the daily…
A: Analysis of total cost helps businesses make informed financial decisions. Understanding the total…
Step by step
Solved in 3 steps with 3 images
- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?Previous Problem Problem List Next Problem (1 point) Using diaries for many weeks, a study on the lifestyles of visually impaired students was conducted. The students kept track of many lifestyle variables including how many hours of sleep obtained on a typical day. Researchers found that visually impaired students averaged 9.2 hours of sleep, with a standard deviation of 2.24 hours. Assume that the number of hours of sleep for these visually impaired students is normally distributed. (a) What is the probability that a visually impaired student gets less than 6.4 hours of sleep? answer: (b) What is the probability that a visually impaired student gets between 6.2 and 8.84 hours of sleep? answer: (c) Thirty percent of students get less than how many hours of sleep on a typical day? answer: hours Note: You can earn partial credit on this problem. Preview My Answers Submit Answers You have attempted this problem 0 times. You have unlimited attempts remaining.
- Demand(box) 10 11 12 13 14 15 and and more less Possibility 0.1 0.18 0.26 0.24 0.12 0.1 A business that will open a gift shop in Los Angeles is considering making and selling love- themed magnets. It is thought that it will not be possible to order new magnets during the fair period, and magnets that are not sold during the fair period will not be sold later. A box of magnets costs the business $100 and generates $460 from its sale. The table includes predictions about demand probabilities. a-) What is the overstocking cost of the business in dollars/box? b-) How many dollars/box is the missing stocking cost?Q1: Pat Jones is the general manager at Denny’s Muffler, which has 3 locations and 27 employees. Currently, the office manager at 3 stores put input their weekly sales results into a spreadsheet and e-mail that spreadsheet to Pat on Friday by noon. Each week, Pat handles between 120 to 350 records of sales data, and another 100 to 300 records of customer data. Pat would be like to keep track of weekly sales, which customers are associated with each sale, the parts used for each sale, what work was done for each customer at each sale, and which parts were used for each sale. If Pat wants to improve his efficiency and effectiveness, which of the following applications would be the best for collecting and storing Pat’s data? 1) Excel 2) SAP3) Access4) Minitab5) Teams6) MySQLEquine Science Interpreting Scatterplots and Regression Equations 180+ 170- 160 150+ 140 130 120- 110 200 300 400 500 600 700 800 Age in Days An Equine Scientist was interested in horse height (measured to the horse wither in cm) as a young horse aged from 200 to 800 days. She collected the data in the graph above from records on horses she had worked with in the past (shown by the blue dots) and fit a linear regression equation (shown by the red line). According the regression equation, as the age of the horse increases in days. the wither height in cm Select an answer v The age of the horse in days and the wither height in cm are Select an answer The slope of the regression equation is approximately 0.044. interpret the slope by completing the sentence below. As the Select an answer v increases by 1, the Select an answer V increases by The regression equation approximates the wither height by the following formula. Let d = age in days Let W = wither height in cm W = 0.044 -d +…
- Question* A shop sells a particular make of video recorder. Assuming that the weekly demand for the video recorder is a Poisson distribution with mean 3, the probability that the shop sells no more than 20 in a month is 0.0213 0.0116 0.9884 None of theseQuestion 2At time 0, M is deposited into Fund X, which accumulates at a force of interest δt =0.006t2. At time m, 2M is deposited into Fund Y, which accumulates at an annual effective rate of 10%. At time n, where n > m, the accumulated value of each fund is 4M.Determine m.Problem 3-14 (Algo) Demand for stereo headphones and music players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for this year was as follows: MONTH DEMAND (UNITS) 4,150 4,25e 3,950 4, 350 4,95e 4,650 5,25e 4,850 5,35e 5,65e 6,25e 5,95e January February March Аpril Мay June July August September October November December a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.8. (Do not round Intermedlate calculatlons. Round your answers to 2 decimal places.) Month Forecast January February March April May June July August September October November December b. To be reasonably confident of meeting demand, Nina decides to use 3 standard errors…
- Problem 20-14 (Algo) Charlie's Pizza orders all of its pepperoni, olives, anchovies, and mozzarella cheese to be shipped directly from Italy. An American distributor stops by every six weeks to take orders. Because the orders are shipped directly from Italy, they take five weeks to arrive. Charlie's Pizza uses an average of 160 pounds of pepperoni each week, with a standard deviation of 26 pounds. Charlie's prides itself on offering only the best-quality ingredients and a high level of service, so it wants to ensure a 99 percent probability of not stocking out on pepperoni. Assume that the sales representative just walked in the door and there are currently 500 pounds of pepperoni in the walk-in cooler. How many pounds of pepperoni would you order? (Use Excel's NORMSINV() function to find the correct critical value for the given a-level. Do not round Intermediate calculations. Round "z" value to 2 decimal places and final answer to the nearest whole number.) Amount of pepperoni's…A market is people or organizations with needs or wants and with the ability and the willingness to buy. Question 30 options: True FalseGeoff Gullo owns a small firm that manufactures “Gullo Sunglasses.” He has the opportunity to sell a particular seasonal model to Land’s Start, a catalog retailer. Geoff offersLand’s Start two purchasing options.• Option 1: Geoff offers to set his price at $65 and agrees to credit Land’s Start $53 foreach unit Land’s Start returns to Geoff at the end of the season (because those unitsdid not sell). Because styles change each year, there is essentially no value in thereturned merchandise.• Option 2: Geoff offers a price of $55 for each unit, but returns are no longer accepted.In this case, Land’s Start throws out unsold units at the end of the season.This season’s demand for this model will be normally distributed with a mean of 200and a standard deviation of 125. Land’s Start will sell those sunglasses for $100 each.Geoff’s unit production cost is $25.a. How much would Land’s Start buy if it chose option 1? b. How much would Land’s Start buy if it chose option 2? c. Which option will…