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Q. Dick Holliday is not sure illustrating what he should do. He can build either a large video rental section or a small 1 in his drugstore. He can also gar additional information or simply do nothing. If he gars additional information, results could suggest either a positive or a negative market. Holliday believes that re is a fifty-fifty chance that information will be positive. If rental market is favourable, Holliday will earn $15,000 with a large section or $5,000 with a small. Within an unfavourable video-rental market, explain however, Holliday could lose $20,000 with a large section or $10,000 with a small section. Without gathering additional information, Holliday approximates that probability of a favourable rental market is 0.7. A positive report from study would increase probability of a favourable rent market to 0.9. Furthermore, a negative report from additional information would decrease probability of a favourable rental market to 0.4. Of course, Holliday could forget all se numbers and neither builds video sections nor gars additional information. Illustrate what is your advice to Holliday? Illustrate what is expected value of perfect information?
This solution exemplifies how to select the correct constraint which is based upon the information given in linear programming problem. This is all addressed in under 50 words.
Organisations based on the principles of scientific management will always perform well. Is this true, or might the application of other theories produce better results.
Develop, in equation form, linear programming model that will determine the optimal number of pickup trucks and moving vans Bay City Movers should purchase.
Computes critical ratios for subsequent activities also specify which activities are probably on targeting also which need to be investigated. Comment on every activity. Elucidate what is your overall interpretation of this result.
She estimates that the new layout will cut the amount of walking for the average employee by 100 miles per year. Explain how much will the layout improvement be worth.
Service/ Manufacturing process design is based on a considerable number of different variables and shows, in essence, a number of trade-offs.
Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.
Specifications for the 12-ounce bar are 330 grams to 350 grams. Illustrate what is the largest standard deviation (in grams) that the machine that fills the bars molds can have and still be considered capable if the average fill is 340 grams.
Let's say your market research firm is hired to assist retail store that is interested in revamping their overall store format in an effort to keep people in their store longer.
Based first on your analysis of the survey data also then on your analysis of the crossover charts, give a justification for every location. Give a complete list of reasons for not selecting every of the 3 sites.
Discuss the implications from an operations design viewpoint of such a change of business model also discuss also explain the types of operations (design) strategies also tactics.
associated with producing the brake shoes on every machine along with the available capacity on every machine. If the Corporation has received an order for 1,800 brake shoes, describe how should it schedule these machines.
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