User Account

All Pages

Construct a decision table with the profits

Assignment Help Business Management
Reference no: EM131201036

Toy Story: You are the owner of a toy stand in a mall and you need to decidehow many units of a particular toy you will order to sell at your stand. You knowthat the demand will either be 20, 40, 60, 80 or 100 with equal likelihood. The unitcost of the toy is $4 and every unit you sell earns revenue of $10 per unit.Leftover units cannot be salvaged or re-sold and are worthless. You have onlyone opportunity to buy in anticipation of demand. Because the toys are shippedin batches, you must order in units of 20.a. For each combination of your choice (order quantity) and demandrealization, find your profit. Construct a decision table with the profits youfind.b. How many toys should you order to achieve highest expected profit? Hint: you only need to order one of the demand realizations. Hence, both thealternatives and the events are the same, namely the five possible demands. The outcome of any combination of your order quantity and the demand is your profit.

Reference no: EM131201036

Questions Cloud

Which of given is definitions of the money supply : Money market funds are not included in which of the following definitions of the money supply? When it is a means of paying for goods and services and discharging debts, money is referred to as a.
Context of lewin model : Explain how change management, in the context of Lewin's model, can help Walmart become a socially-responsible organization in 200 words.
Department of homeland security and state offices : The Department of Homeland Security and state offices of homeland security were created in large scale after the terrorist attacks of September 11, 2001.
Compare the use of hardware-intensive controllers : Would you classify a ROM-based controller that does not have programmable memory, as a hard-wired controller or as a software-intensive controller?
Construct a decision table with the profits : Construct a decision table with the profits youfind.b. How many toys should you order to achieve highest expected profit? Hint: you only need to order one of the demand realizations. Hence, both thealternatives and the events are the same, namely ..
Determine the types of organizational records : Consider a fitness center. Determine the types of organizational records that the center has available. Explain how these records are used in terms of marketing efforts. Do they effectively generate a consumer profit? If not, what other types of i..
What is the addition to retained earnings : Billy's Exterminators, Inc., has sales of $740,000, costs of $288,000, depreciation expense of $40,000, interest expense of $30,000, a tax rate of 35 percent, and paid out $65,000 in cash dividends. What is the addition to retained earnings? (Do n..
List the major levels of management : List the major levels of management(management hierarchy) which enables an organisation to meet is goal?
Prepare a monthly staffing plan : ACTG5210P Assignment. Sofia's Furniture ("SF") makes residential wet bar equipment from real wood and sells them through three sales outlets. Prepare a Monthly Staffing Plan, showing both hours, dollars and the overtime impact

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd