Explain how many pins should you buy also have on hand

Assignment Help Operation Management

Reference no: EM1377793

Q. Alabama pins commemorating the 2009 National Championship game are purchased in multiples of 100 for your college organization at $1.50 each. When sold during the event the selling price is $5. After the event their salvage value is just $0.25.

From past events (many years ago!!!!) you compute the probability of selling different quantities of pins within a range from 200 to 500:

Consumer Demand 200 300 400 500 Prob. Of Occurrence .35 .20 .10 .35

a.) Explain how many pins should you buy also have on hand for the event? (Use excel also show your formulas with Ctrl~)

b.) Does the decision change if you exchange the probabilities for 400 also 500? If so, illustrate what is the change? (Show your excel sheet with the change made; no need for Ctrl~ on b only).

Reference no: EM1377793

Questions Cloud

Explain why would you decentralize hrm also have management : Explain why would you decentralize HRM also have HRM managers reporting to line managers with organizational structure.

Estimate the time it takes you to perform which operation : Now measure the time it takes while working at a standard pace. Is your estimate within plus or minus 20 percent of the estimated time.

Role of regulation in the healthcare industry : Management experts often say the management process is both an art and science. Do you agree with this statement? Explain your answer

Example of disturbance theory : Explain how pluralist theorists describe wealth, power, and influence in the US. The development of environmental organizations was used as an illustration of disturbance theory.

Explain how many pins should you buy also have on hand : Explain how many pins should you buy also have on hand for the event. Does the decision change if you exchange the probabilities for 400 also 500. If so, illustrate what is the change.

Explain how will growth impact fresh connections operation : Explain how will growth impact Fresh Connections' operations. Illustrate what capabilities should Fresh Connections emphasize in its strategy.

Knowledge of consulting and intervention methods : Examine workplace issues and collaborates with cluster leadership to construct corrective and proactive solutions; develops strategies and makes suggestions to improve organizational effectiveness and transform work culture

Illustrate what other factors are relevant to this issue : Illustrate what other factors are relevant to this issue. Explain how do the changes in assumptions mentioned by the other managers affect the proposal. Illustrate what position should Jim take.

Illustrate what potential legal or ethical issues : Illustrate what potential legal or ethical issues which might be encountered if this type of policy is implemented as well as ways to avoid these issues.

User Account

All Pages