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You are the manager of Tex Electronics and are planning a promotion on a discontinued model of 27 color TVs. The promotion will last 10 days, at the end of which any sets that you ordered but have not sold will be sold to another retailer for $250 each. You must order the sets from the manufacturer before you know what the demand during the promotion will be. Your cost is $350 per set and you will sell them for $600. You estimate that on 20% of the days you will sell 2 sets, 30%of the days you will sell 1 set, and 50% of the days you will sell no sets. (b) Estimate the optimal number of TVs to order. Simulate order quantities of 7,8,9,10, and 11. In the 10 cells containing the daily demands, use a discrete, general probability distribution. Have one cell that contains the total net profit for the promotion. Based on 1,000 trials, what order quantity maximizes the average net profit? What is the simulated average net profit?
What is the role of data discovery in corporate decision making within your own organization or an organization in which you are familiar with?
You are a single mother of two, working as a secretary in the offices of Eagle Loan company. It is hard work but pays reasonably well.
Tiffany, aged 17, wanted to buy a motorcycle. She did not have the money to pay cash but persuaded the dealer to sell a cycle to her on credit.
There are five techniques for designing evaluations to measure performance.
How would you use this knowledge to develop an advertising plan?
The demand for subassembly S is 150 units in week 7. Each unit of S requires 1 unit of T and 1 unit of U. Each unit of T requires 1 unit of V, 2 units of W, and 2 units of X. Finally, each unit of U requires 1 unit of Y and 3 units of Z. One firm man..
Describe the forecast goal, horizon and use as described in Section 1.4 of the text.
One dataset related to production and business activity within the market or industry you choose to analyze.
What business factors influenced this decision? What critical success factors (CSF) are at stake?
Can you suggest a few ideas for new products, services, or businesses that might be able to meet changing needs based on these demographics?
Ability to establish and maintain state-of-art management information reporting system to include database development
The daily demand of a product can be specified by a normal distribution. What are the safety stock and reorder point for a 95% service level?
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