Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Problem -
Even though independent gasoline stations have been having a difficult time, Ian Langella has been thinking about starting his own independent gasoline station. Ian's problem is to decide how large his station should be. The annual returns will depend on both the size of his station and a number of marketing factors related to the oil industry and demand for gasoline. After a careful analysis, Ian developed the following table:
Size of First Station
Good Market ($)
Fair Market ($)
Poor Market ($)
Small
50,000
20,000
-10,000
Medium
80,000
30,000
-20,000
Large
100,000
-40,000
Very Large
300,000
25,000
-160,000
For example, if Ian constructs a small station and the market is good, he will realize a profit of $50,000.
a) Develop a decision table for this decision, like the one illustrated in Table A.2 earlier.
b) What is the maximax decision?
c) What is the maximin decision?
d) What is the equally likely decision?
e) Develop a decision tree. Assume each outcome is equally likely, then find the highest EMV.
The Barberton Division of Road Maintenance is charged with road repair in the city of Barberton and the surrounding area. Cindy Kramer, road maintenance director, must submit a staffing plan for next year based on the set schedule for repairs and on ..
Describe the strategy of the firm you selected for your project (which is Case 8: Proctor & Gamble's Organization 2005), using the strategy model: Describe Dyson's strategy, as a guide to frame the strategy description from the following two perspect..
What experiences and qualifications are important in preparing managers for "fact-based" decision making?
Briefly state the economic and noneconomic arguments in favour of land reform in Latin America and the Caribbean. What is comprehensive, or integrated, rural development? What are the main arguments of the trade optimists? Is this position supported ..
What are the potential ethical and conflict of interest issues arising from CEO involvement in the selection of board members? How can these issues be addressed?
Human Resource Management has transitioned over the last couple of decades from back office support to strategic partner. Review some major trends that have impacted Human Resource Management over the last 20 years. What barriers does Human Resource ..
Watching the video "Whistle-blowing- What was the dilemma for Denny? What was the dilemma for Susan? Where both of them looking out for the best interests of the company
Evaluate Moody’s global corporate citizenship using each dimension (e.g. Citizenship Content, Strategic Intent, Leadership, Structure, Issues Management, Stakeholder Relationships, and Transparency)
One of the most important rules of investing is that investors demand returns which compensate them for the risk to which they are being exposed. For this example, assume that the dividend/stock price ratio is a proxy for this risk/return relationshi..
analyze the relationship between analysis,planning,implementation, and control. provide an example of a product or service that flows through this relationship. Break down the product or service through each sector.
What are the DNS Resolvers and where are they located?
How do we learn about organizational behavior? What do you mean by material flow and information flow in supply chain. Explain various modes of transportation under logistic management.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd