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A company is planning to start a manufacturing unit. The success of the manufacturing unit depends on the ability of the company to obtain patent approval on a product. The company can invest to receive patents from the U.S. government. If the company is successful in its patent application, it can make $60,000. If it doesn't receive the patent, the company will make $5,000. Or the company can fund a caucus for election 2000; if it is accepted then the company can make $50,000, or else it loses $20,000. Or if the company goes for an awareness campaign, it can make $25,000) but if it is not successful, then the return will be only $ 10,000. I l Probability of success is 0.6 and of fåilure is 0.4. Construct an Excel spreadsheet to find the best decision using the following:
a. Maximax
b. Maximin
c. Equal likelihood
d .Expected value
e. Create a sensitivity graph comparing the different alternatives as the probability of success changes.
Identify and describe a process problem that you have experienced. Develop a cause-andeffect (fishbone) diagram to diagnose the possible causes of the problem. Make sure your diagram includes at least four bones and ten ribs.
Michael Dell, president of Dell Computers, Inc., has two design options for his new high resolution flat screen monitors for CAD workstations. The life cycle sales forecast of the monitors is 100,000 units. We ignore any disposal cost in this problem..
Define social responsibility. How does this view of the role of business differ from your previous perceptions? How is it consistent with your attitudes and beliefs about business?
Explain what type of labour market interference is most often experienced by men and which type is most often experienced by women. Make sure you define each of the two types of interference.
Texas’ Legislature just passed the Campus-Carry bill allowing professors, administrators, and students to carry hand-guns (weapons) on campus in the near future. This will only promote more school shootings and/or violence
Suppose that three people A, B, and C are throwing a ball from one to another. Whenever A has the ball, he throws it to B with a probability of 1/3 and to C with a probability of 2/3. Whenever B has the ball, she throws it to A with probability of 3/..
Address the following questions and also provide the name of a company example of each structure with supporting rationale. What kinds of companies should employ the simple structure organizational configuration? What kind of companies should use the..
Jimmy runs a business in his basement that spin aligns and marks golf balls with logos for tournaments. The automated machine goes through three serial steps; the first step takes 15 seconds.
A brief assessment of applicable laws or regulations that must be considered. Recommendations about how to implement the initiatives to remain compliant while positing the organization for success
An in-depth description of at least 2 issues faced by most manufacturing firms that have traditional manufacturing methods. Contemporary methods to overcome the cons without losing the advantages of the traditional method
S11.5 Bloom’s Jeans is searching for new suppliers, and Debbie Bloom, the owner, has narrowed her choices to two sets. Debbie is very concerned about supply disruptions, so she has chosen to use three suppliers no matter what. For option 1, the suppl..
Determine the possible circumstances under which the company should discontinue operations. Suggest key actions that management should take in order to confront these circumstances
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