Which route will minimize lynn expected travel time

Assignment Help Operation Management

Reference no: EM1377186

Q. In past few years, traffic problems for Lynn's hometown have gotten worse. Now, Commonwealth Ave is congested about half time. Normal travel time to work for Lynn is 30 minutes when Commonwealth Ave is used also re is no congestion. With congestion, elucidate however, it takes Lynn 1 hour 20 minutes to get to work. If Lynn decides to take NLEX, it will take 1 hour regardless of traffic conditions. Lynn's utility for travel time is: U (30min) = 0.9, U (1 hour) = 0.7, U (1 hour 20 min) = 0.2.

a. Which route will minimize Lynn's expected travel time?

b. Which route will maximize Lynn's utility?

c. When it comes to travel time, is Lynn a risk seeker or a risk avoider?

Reference no: EM1377186

Questions Cloud

Which hotels chains use empowerment empowerment training : Which Hotels Chains use empowerment programs or empowerment training. Illustrate what is difference between leadership training also empowerment training.

Describe conceptually about maslow needs hierarchy : is emotional labour more troublesome for college instructors or for telephone operators working at an emergency service. four drives should parallel seven needs which Maslow identified

Phenomenological approach to investigate : This work employs a phenomenological approach to investigate how people experience the radical transformation of their work lives caused by reengineering processes.

Forecasting cash flows : An investment banker, states it is not worth my while to worry about detailed, long-term forecasts. Instead, I use the following approach when forecasting cash flows beyond three years.

Which route will minimize lynn expected travel time : In past few years, traffic problems for Lynn's hometown have gotten worse. Which route will minimize Lynn's expected travel time. Which route will maximize Lynn's utility.

Illustrate difference between independent-dependant demand : Illustrate what is difference between independent also dependant demand in a McDonalds restaurant. Describe optimum preventive maintenance frequency for each of pieces of equipment if breakdown time is normally distributed.

Should he lower her advertising budget : Cloris employs one sales representative at a salary of $40,000 per year. If Johnson reduces advertising budget by $20.000 she expects to 75 fewer units. Should he lower her advertising budget.

Determine theoretical number of workstations : An insurance company uses accompanying tasks to process paperwork. Forty claims need to be processed in an eight-hour day. Determine theoretical number of workstations.

Which of three workstations has highest aggregate workload : Which of three workstations, W, X, or Y, has highest aggregate workload, also thus serves as bottleneck for CKC.

User Account

All Pages