Please please answer all subparts.I will really upvote.I know it's not according to your guidelines. Question 3Part AThe following payoff table, represents the future demand for a product.AlternativesSmall facilityMedium facilityLarge facilityLowModerateHigh129.86.71218Use the following decision criteria to determine the best alternative.i)MaximinMaximaxii)iii)iv)LaplaceMinimax regret

Answered: Question 3 Part A The following payoff…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter7: Nonlinear Optimization Models

Section: Chapter Questions

Problem 56P

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Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?
Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?
Decision Under Uncertainty The digital television service company TV-más is facing a significant problem of customer loss in recent months, in particular, customers of the Home plan, which consists of an annual subscription whose value is $200 and that allows you to watch more than 40 high definition television channels. The company has prepared a list of clients who have decided that once the subscription has ended, they will not contract the service again, since, among several reasons , they maintain that the company does not treat its clients well. Considering customer opinions, the company has thought of a plan so that customers who have decided not to renew can reverse their decision and subscribe to the service for one more year. The plan consists of giving a gift to customers who have decided not to renew in order to show concern for them. The gift consists of a set of kitchen pots, with the company logo, which costs the company $50. According to information from a pilot plan…
Exhibit 1. Solver Sensitivity Report. A В E F H 6 Variable Cells 7 Final Reduced Objective Allowable Allowable 8 Cell Name Value Cost Coefficient Increase Decrease $B$25 kg x1 $C$25 kg x2 9. 8. 300 200 300 10 4 500 1E+30 200 11 12 Constraints 13 Final Shadow Constraint Allowable Allowable 14 Cell Name Value Price R.H. Side Increase Decrease 15 ŞE$20 N 1320 600 720 1E+30 16 $E$21 P 1080 3.333333333 1080 1E+30 432 17 SE$22 K 60 13.33333333 60 90 60 Referring to Exhibit 1, if the right-hand side of the K constraint changes to 30, then the objective function value: will decrease by 13.3333 will decrease by 400. O will decrease by 133.3333. O will remain the same.
Please no written by hand solutions QUESTION 10 10. "Enter our competition and you could win your share of R500 online shopping voucher for yourself AND a R10 000 voucher towards a Women's empowerment NGO of your choice!" Mrs Jacobs entered the competition above at Mr Price and won a R500 voucher. With R500, she can either buy a handbag, a pair of shoes, a pair of jeans or jacket. She already has a jacket, and she does not want new shoes. She would like a pair of jeans but decides to buy a handbag. What is her opportunity cost? a)R500 voucher. b) Handbag C)Pair of shoes. d)Pair of jeans.
itative Analysis Haji Ismail Company is going to introduce one of the three new products: keropok, satay, and chips. As the market conditions (favorable, stable or unfavorable) tend to affect the payoffs of the products. Table 1: Condition of payoffs of Ahmad Company Product Favorable Stable Keropok Satay 18,000 12,000 9,000 11,000 7,000 Unfavorable 10,000 -5,000 Chips -6,000 What the objective that can be derived from the given situation? 2,000 Select one: O A. The objective to produce the products. OB. The objective to determine the market condition. O C. The objective to determine which product can be introduced to ensure the highest payoff. O D. The objective to determine minimize the cost of production.
Judd 57 Joel Gus Tim $3 2. 1 $5 $2 First film Second film Third film Fourth film Fifth film 1. 0. 0. 5. 2. 1 a. Within the dorm room, is Ux showing of a movie a public good? Why or why not? b. W itcosts S5 to rent a movic how many movies should the mommates rent to maximize tothl surplus? c. li they choose the optimal number from part (b)and then split the cost of renting the movies equally, how much surplus does.cach person obtain from wakhing the me d. s there any way tospl ost.tormsre that everyone benefits? What practical problems does this solution reise? Suppose they agmeinarancetochoxxe the efficient number and to split the cosr of the movies equally. When fudd is asked his wiling ness to pay, will he have an incentive to toll the Iruth? If so, why? f not. what will he he tempted (1అ) బ* E What does this example teach you abou the optimal provision of public goods? yol public gods?
Question 3You are a Financial Planning and Control Manager at FreeAir Lid, a leading manufacturer of fans used in air conditioning systems. The company is located in Liverpool, UK In the year ended 31 March 2019, manufacturing cost per unit comprised: The company produced and sold 45,000 fans during the year ended 31 March 2019. The selling price per unit was £300 Fixed overheads for the year ended 31 March 2019 were: Jessica Olusange, Chief Executive, has developed a new strategy for the business. The company has invested in a new manufacturing facility in Leicester, UK this investment means that fixed costs will increase by £1,450,000 from 1 April 2019. However, the move to the new manufacturing facility means that direct labour costs are expected to reduce by £2 per unit, variable manufacturing overheads will reduce by £0.50 per unit and variable administrative expenses will reduce by £2 per unit. Jessica believes that her new strategy will reduce the level of financial risk to…
1. 1.Alabama llc collected sales dara for four months, janurary through april. the data is janurary-17, feburary -24, march -25 and april -26. usung a three month moving average. the forcaste calue of may is a. 21 b.22 c.23 d.24 2. a decision tree branch has an expectrd monrtary value of 108. the probability of success is .6 with an outcome value of 200. what is the outcome value of failure?
2) A company is considering a plan to produce or buy/outsource a certain item used in the production of new type of cars. Making the item would involve annual lease costs of $150,000. Cost and volume estimates are as follows: Make Buy Annual fixed cost $150,000 None Variable cost/unit $60 $80 Annual volume 12,000 12,000 (units) a. Given these numbers, should the firm buy or make this item? b. There is a possibility that volume could change in the future. At what volume would the company be indifferent between making and buying?
Geoff Gullo owns a small firm that manufactures “Gullo Sunglasses.” He has the opportunity to sell a particular seasonal model to Land’s Start, a catalog retailer. Geoff offersLand’s Start two purchasing options.• Option 1: Geoff offers to set his price at $65 and agrees to credit Land’s Start $53 foreach unit Land’s Start returns to Geoff at the end of the season (because those unitsdid not sell). Because styles change each year, there is essentially no value in thereturned merchandise.• Option 2: Geoff offers a price of $55 for each unit, but returns are no longer accepted.In this case, Land’s Start throws out unsold units at the end of the season.This season’s demand for this model will be normally distributed with a mean of 200and a standard deviation of 125. Land’s Start will sell those sunglasses for $100 each.Geoff’s unit production cost is $25.a. How much would Land’s Start buy if it chose option 1? b. How much would Land’s Start buy if it chose option 2? c. Which option will…
Please answer a, b and c. Question four Bakery Products is considering the introduction of a new line of products. In order to produce the new line, the bakery is considering either a major or minor renovation of the current plant. Bakery Products has the option of not developing the new line at all. The decision alternatives are shown in the payoff table below as well as the states of nature and probabilities. Payoffs are profits; Before making the final decision, Bakery Products can pay a market research firm $500.00 to survey consumer attitudes towards the company's products. The results can be either “vibrant” or “limp”. The reliability of the company, based on past performance, is given below. That is: P(V|F) = 0.80;P(V|N) = 0.60;P(V|U) = 0.30; P(L|F) = 0.20;P(L|N) = 0.40;P(L|U) = 0.70; a) Computed the revised probabilities round to two decimal places. b) After you have computed the revised probabilities round to two decimal places, construct the appropriate decision tree…

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