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1. The new owner of a beauty shop is trying to decide whether to hire one, two, or three beauticians. She estimates that profits next year (in thousands of dollars) will vary with demand for her services, and she has estimated demand in three categories, low, medium, and high. NUMBER OF BEAUTICIANS DEMAND LOW MEDIUM HIGH One 50 75 100 Two 0 100 100 Three (100 ) 70 300 If she feels the chances of low, medium, and high demand are 50 percent, 20 percent, and 30 percent respectively, what is her expected value of perfect information?
2. The owner of Tastee Cookies needs to decide whether to lease a small, medium, or large new retail outlet. She estimates that monthly profits will vary with demand for her cookies as follows: SIZE OF OUTLET DEMAND LOW HIGH Small $ 1,000 1,000 Medium 500 2,500 Large 0 3,000 If she feels there is a 30 percent chance that demand will be high, what is her expected payoff under certainty?
What are some key reasons why a knowledge of social/behavioral theory is useful across a range of public health careers?
Look through different mascots in sports. For example, Native American mascots in sports can be offensive to individuals since they reinforce savage or degrading ideology. Research mascots from high school, college, or profession sport teams. Locate ..
Discuss the 10 key executive activities/roles. Explain how these roles play out in real life situations and include examples to demonstrate your understanding of the various roles. Do you believe executives participate in all of these roles on a rout..
Calculate the RELIABILITY of a service system (RS) based on a firm’s determination of the probability of failure in each step of its service,
The cause-and-effect diagram is important in determining causes and effects of a problem. The cause-and-effect diagram is also known as the Ishikawa diagram, or the fishbone diagram. Identify potential quality concerns in the traditional areas of mac..
Find the Web site of a company that is a hybrid (brick-and-mortar storefront along with a Web presence).
Marcus works for the driver service, Uber. Marcus earns $12 an hour for the hours he drives his car for Uber. Sometimes Marcus drives as much as 50 hours in a week for Uber, and other times he drives only 20 hours in a week. Explain the legal risks t..
What is Old Spice's equity and why was it an important part of the brand's thinking? Describe the halo effect and its importance.
What's the strategy or reason behind allowing consumers to build their own Subarus? Do you see any relationship to using this information and improving their products?
Describe the economic, market, technological and competitive drivers of performance potentials of firms in the steel industry.
Provide at least two examples of companies that have used project management techniques such as CPM or PERT. Evaluate their success in operations.
What type of strategy consists of geographical pricing, price discounts and allowances, promotional pricing, and differentiated pricing?
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