Reference no: EM131149477
Mick Karra is the manager of MCZ Drilling Products, which produces a variety of specialty valves for oil field equipment. Recent activity in the oil fields has caused demand to increase drastically, and a decision has been made to open a new manufacturing facility. Three locations are being considered, and the size of the facility would not be the same in each location. Thus, overtime might be necessary at times. The following table gives the total monthly cost (in $1,000s) for each possible location under each demand possibility. The possibilities for the demand levels have been determined to be 20% for low demand, 30% for medium demand, and 50% for high demand.
Ardmore, Ok (demand is low) 85 (demand is medium) 110 demand is high (150)
Sweetwater, TX (demand is low) 90 (demand is medium) 100 demand is high (120)
Lake Charles, LA (demand is low) 110 (demand is medium) 120 demand is high (130)
a) Which location would be selected based on the optimistic criterion?
b) Which location would be selected based on the pessimistic criterion?
c) Which location would be selected based on the maximum criterion?
d) Which location should be selected to minimize the expected cost of operation?
e) How much is a perfect forecast of the demand worth?
f) Which location would minimize the expected opportunity loss?
g) What is the expected value of perfect information in this situation?
|
Analyze case study and identify the issues
: Does alcohol and drug use uniquely affect an adolescent's ability to make decisions about medical care for addiction;
|
|
Did other factors influence which solution was selected
: Describe the problem you are focusing on for your action research project. Discuss your motivation for addressing this problem in terms of why it is significant to the organization and how achieving the proposed change would produce positive resul..
|
|
Create an entire transformational change management plan
: You will create an entire Transformational Change Management Plan for a medium-sized public company that has lost business to a competitor that has chosen to outsource much of its production operations
|
|
Describe the molecular mechanism of the development
: Describe the molecular mechanism of the development of ketoacidosis.
|
|
How much is perfect forecast of the demand worth
: Mick Karra is the manager of MCZ Drilling Products, which produces a variety of specialty valves for oil field equipment. Recent activity in the oil fields has caused demand to increase drastically, and a decision has been made to open a new manufact..
|
|
About the international management
: From what you have learned from the Coca Cola inquiry, what types of education or experience would you need to be hired by the company? What kinds of international career opportunities does Coke offer? If you were hired by Coke, what type of financia..
|
|
Analyze the simulation scenario using frameworks
: Identify any five frameworks, each from a different module of the course. Analyze the simulation scenario using these frameworks/ models
|
|
Identify potential sources of stress within your project
: Describe two potential sources of conflict within your project and how you will determine if the conflict is good or bad. Discuss two potential sources of stress within your project and the methods you can use to reduce that stress.
|
|
Discuss the impact of managerial roles on decision making
: Discussion Every year, Ethisphere Magazine publishes a list of the world’s most ethical companies. Go to its website; find and evaluate their rating methodology and criteria, and comment on its assessment. Should the criteria be modified? Discussion ..
|