With reference to the data provided in the table, make any recommendations for choosing the preferred alternative by using (a) dominance, (b) satisficing, (c) disjunctivelexicography. Use all the methods separately.Click the icon to view the table for the data for the alternatives discussed.a. Choose the correct answer below.O A. Alternative "Vendor II" is dominated only by alternative "Vendor III" and should be eliminated.OB. None of the alternatives dominates the other.O C. Alternative "Vendor III" is dominated only by alternative "Vendor II" and should be eliminated.OD. Alternative "Vendor I" is dominated only by alternative "Vendor III" and should be eliminated.ancial calculatorMore InfoAttributeA. Reduction inthroughput timeB. FlexibilityC. ReliabilityD. QualityE. Cost of system (PWof life-cycle cost)Pairwise comparisons:Vendor /60%GoodExcellentGood$270,000C…….1.A CAlternativeVendor //70%ExcellentGoodExcellent$300,0006.B> D7.B

The question asks us to make recommendations for choosing the preferred alternative using three…

With reference to the data provided in the table, make any recommendations for choosing the preferred alternative by using (a) dominance, (b) satisficing, (c) disjunctive lexicography. Use all the methods separately.

With reference to the data provided in the table, make any recommendations for choosing the preferred alternative by using (a) dominance, (b) satisficing, (c) disjunctive lexicography. Use all the methods separately.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

With reference to the data provided in the table, make any recommendations for choosing the preferred alternative by using (a) dominance, (b) satisficing, (c) disjunctive
lexicography. Use all the methods separately.
Click the icon to view the table for the data for the alternatives discussed.
a. Choose the correct answer below.
O A. Alternative "Vendor II" is dominated only by alternative "Vendor III" and should be eliminated.
OB. None of the alternatives dominates the other.
O C. Alternative "Vendor III" is dominated only by alternative "Vendor II" and should be eliminated.
OD. Alternative "Vendor I" is dominated only by alternative "Vendor III" and should be eliminated.
ancial calculator
More Info
Attribute
A. Reduction in
throughput time
B. Flexibility
C. Reliability
D. Quality
E. Cost of system (PW
of life-cycle cost)
Pairwise comparisons:
Vendor /
60%
Good
Excellent
Good
$270,000
C…….
1.A<B
2.A=C
3.A<D
4.A<E
5.B> C
Alternative
Vendor //
70%
Excellent
Good
Excellent
$300,000
6.B> D
7.B<E
8.C<D
9.C<E
10.D<E
Vendor III
82%
Good
Good
Excellent
$250,000
Retain
Existing
System
Poor
Fair
$0
Worst
Acceptable
Value
50%
Good
Good
Good
$350,000
X

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Bags/Participants Fixed Cost Variable Cost Total Cost 0 $1,700 $ - $1,700 100 $1,700 $500 $2,200 200 $1,700 $1,200 $2,900 300 $1,700 $2,700 $4,400 400 $1,700 $5,200 $6,900 500 $1,700 $9,000 $10,700 600 $1,700 $15,000 $16,700 700 $1,700 $23,800 $25,500 800 $1,700 $36,800 $38,500 900 $1,700 $55,800 $57,500 1,000 $1,700 $83,000 $84,700 Given the above information on cost, if you charge $15 per entry, what is the breakeven quantity of bags that you should order? At what quantity of bags will profits be maximized? A Use the profit maximizing rule, MR ≥ MC, buy 300 bags. B Use the profit maximizing rule, MR ≥ MC, buy 200 bags. C Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 300. D Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 200.
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