How many papers should Shaq order

Assignment Help Operation Management
Reference no: EM132223215

Shaq Bryant sells newspapers on Sunday mornings in an area surrounded by three busy churches. Assume that Shaq's demand can either be for 100, 300, or 500 newspapers depending on traffic and weather. Shaq has the option to order 100, 300, or 500 newspapers from his supplier. Shaq pays $1.25 for each newspaper he orders and sells each for $2.50.

a) How many papers should Shaq order if he chooses the maximax criterion?

b) How many papers should Shaq order if he chooses the maximin criterion?

c) How many papers should Shaq order if he chooses the equally likely criterion?

d) How many papers should Shaq order if he chooses the criterion of realism with alpha= 0.45?

e) How many papers should Shaq order if he chooses the minimax regret criterion?

Show me the step by step answers using excel, and show the formulas used in excel to get the answers.

Reference no: EM132223215

Questions Cloud

Consider the idea of art vs. commerce : Consider the idea of art vs. commerce (or business) when it comes to musicians — or filmmakers, authors or others in mass media?
Schedule and over budget on important strategic program : The Problems of Multitasking An eastern U.S. financial services company found itself way behind schedule and over budget on an important strategic program.
What is your analysis of situation and what are some actions : What is your analysis of this situation and what are some actions that could be taken to resolve it? What is your rationale for these actions?
Intends to recruit a him director with rhia credential : A new hospital opens in your local community and intends to recruit a HIM director with RHIA credential.
How many papers should Shaq order : Shaq Bryant sells newspapers on Sunday mornings in area surrounded by three busy churches. How many papers should Shaq order if he chooses maximax criterion?
How your organization overall business strategy : Discuss how your organization's overall business strategy and human resources planning affect one another.?
Characteristics that influence and individual behavior : Which of the following is FALSE about supply chains? Personality is defined constantly changing set of characteristics that influence and individual's behavior.
Identify successful direct marketing or digital marketing : Identify a successful direct marketing (using direct mail, catalogs, and/or telephone marketing) or digital marketing.
Describe american express marketing and branding strategies : How would you describe American Express' marketing and branding strategy(ies)? How does it compare to MasterCard, Discover, and Visa?

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

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!

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