Reference no: EM13338505
1. The Super Cola Company must decide whether or not to introducea new diet soft drink. Management feels that if it does introducethe diet soda it will yield a profit of $1 million if sales arearound 100million, a profit of $200000 if sales are around 50million, or it will lose $2 million if sales are only around 1million bottles. If Super cola does not market the new diet soda,it will suffer a loss of $400000.
a) Construct a payoff table for this problem
b) Construct a regret table for this problem
c) Should Super Cola introduce the soda if the company: (1) isConservative; (2) is Optimistic; (3) wants to maximize its maximumdisappointment?
d) An internal marketing research study has found P (100 million insales) = 1/3; P (50 million in sales) = ½; P (1 million insales) = 1/6. Should Super Cola introduce the new diet soda?
2. Zipco Printing operates a shop that has 5 printing machines.The machines differ in their capacities to perform various printingoperations due to differences in the machines’ designs andoperator skill levels. At the start of the workday there are 5printing jobs to schedule. The manager must decide what the jobmachine assignments should be.
a) How could a quantitative approach to decision making be used to solve this problem?
b) What would be the uncontrollable inputs for which data must becollected?
c) Define the decision variable, objective function and constraints toappear in the mathematical model?
Suggest some simplifying assumptions for this problem.
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: Zipco Printing operates a shop that has 5 printing machines.The machines differ in their capacities to perform various printingoperations due to differences in the machines’ designs andoperator skill levels
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