Explain what decision should be made by the optimist, Operation Management

Assignment Help:

Company must decide how many lots of chocolate muffin premix to order for its three stores. Information on pricing, sales, and inventory costs has led to the following payoff table, in thousands.
                   Demand
Order size     Low     medium    High
1 lot 12 15 15
2 lots 9 25 35
3 lots 6 35 60

1-what decision should be made by the optimist?

2-what decision should be made by the conservative?

3-what decision should be made using minimal regret? Show the regret table.

4-assume that the payoff table provides cost rather than profit payoffs. What is the recommended decision using optimistic, conservative, and minimal regret approaches?


Related Discussions:- Explain what decision should be made by the optimist

Explain well-designed teams tend to sabotage leaders, When it comes to how ...

When it comes to how a team is designed (i.e., members, communication, goals, norms, etc.) and team leadership, which of the following statements is most true based upon the studie

Compute the lcl and ucl for these data, A state department of tourism and r...

A state department of tourism and recreation collects data on the number of cars with out-of-state license plates in a state park. (The group's position is that more out-of-state p

Briefly explain mcdonald''s value chain, Briefly describe McDonald's value ...

Briefly describe McDonald's value chain and discuss how information systems facilitate each component in the chain. How could information technology improve your next trip to McDon

Explain original linear programming problem, Create your own original Linea...

Create your own original Linear Programming problem with a minimum of two variables and two constraints. Your problem should be presented in paragraph form and reflected in a LP eq

Finding the r bar and x bar bar, The Canine Gourmet Company produces delici...

The Canine Gourmet Company produces deliciious dog treats for canines with discriminating tastes. management wants box-filling line to be so that the process averagee weight per p

Explain simple to state and very difficult to execute, The Assignment is at...

The Assignment is at the same time very simple to state and very difficult to execute. It is designed to allow you to use all the tools of strategy and analysis that you have learn

Needs for cuba to develop a free and independent trade union, Give your ass...

Give your assessment of the requirements for Cuba to develop a free and independent trade union. Determine if it is essential for a free society.

Explain compensation as a motivator of behavior, 1. Does your company's com...

1. Does your company's compensation plans help to attract and retain people with the right skills, knowledge and motivation to help the company succeed? Explain.Company;NYC Dept. f

Explain bruce wayne routinely participates in activities, Bruce Wayne routi...

Bruce Wayne routinely participates in activities such as skydiving, rock climbing and bungy jumping. His employer told him to stop the activities or they would cancel his health in

Presume that as a result of hr planning, Assume that as a result of HR plan...

Assume that as a result of HR planning, a mental hospital identifies a shortage of therapists but a surplus of case workers. Discuss the actions that you would take to address the

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd