Use the following information to answer multiple-choice Questions 1 to 10.An engineer develops a new product. Having made the product, he/she has threechoices. He/she can either manufacture the product or allow someone else to make itand be paid on a royalty basis, or alternatively, he/she can sell the rights to receive alump sum.I.The profit that can be expected depends on the level of sales with the correspondingprobabilities, shown in the table QI below, in thousands of £'s.High Sales.(Probability=0.2)160Medium Sales.Low Sales.(Probability=0.3)-40Manufacture80Take RoyaltiesSell all rights1006020404040Тable QI1. Using the Maximax decision criterion, the best decision is:a) Manufactureb) Take Royaltiesc) Sell all rightsd) Manufacture, because it produces the highest average profit among the three options2. Using the Maximin decision criterion, the best decision is:a) Manufactureb) Take Royaltiesc) Sell all rightsd) Sell all rights, because its lowest profit is the highest amongst the three options3. Using the Minimax decision criterion, the best decision is:a) Manufactureb) Take Royaltiesc) Sell all rightsd) Mail Order, because it has the highest opportunity loss4. Using the Hurwics criterion and alpha equal to 0.6, the best decision is:a) Manufactureb) Take Royaltiesc) Sell all rightsd) Mail Order, because it produces the highest average profit among the three options5. Using Maximise Expected Monetary Value (EMV) criterion, the best decision is:a) Manufactureb) Take Royaltiesc) Sell all rightsd) Any one of the three options

The Maximax criterion, also known as the positive criterion, is a method for making choices in the…

Use the following information to answer multiple-choice Questions 1 to 10. An engineer develops a new product. Having made the product, he/she has three choices. He/she can either manufacture the product or allow someone else to make it and be paid on a royalty basis, or alternatively, he/she can sell the rights to receive a lump sum. I. The profit that can be expected depends on the level of sales with the corresponding probabilities, shown in the table QI below, in thousands of £'s. High Sales. (Probability=0.2) Medium Sales. Low Sales. (Probability=0.3) -40 Manufacture 160 80 Take Royalties Sell all rights 100 60 20 40 40 40

Use the following information to answer multiple-choice Questions 1 to 10. An engineer develops a new product. Having made the product, he/she has three choices. He/she can either manufacture the product or allow someone else to make it and be paid on a royalty basis, or alternatively, he/she can sell the rights to receive a lump sum. I. The profit that can be expected depends on the level of sales with the corresponding probabilities, shown in the table QI below, in thousands of £'s. High Sales. (Probability=0.2) Medium Sales. Low Sales. (Probability=0.3) -40 Manufacture 160 80 Take Royalties Sell all rights 100 60 20 40 40 40

Elements Of Electromagnetics

7th Edition

ISBN:9780190698614

Author:Sadiku, Matthew N. O.

Publisher:Sadiku, Matthew N. O.

ChapterMA: Math Assessment

Section: Chapter Questions

Problem 1.1MA

See similar textbooks

Similar questions

Consider the following two mutually exclusive projects being considered by an agency. The agency's MARR is 4% per year and the projects have a service life of 5 years. Answer the following questions. Initial cost Annual revenues Present Worth (PW) Project 1 $14,600 $3,901 $2,767 Project 2 $22,100 $5,638 a. Based on the PW, the project that is more economical is Project b. Calculate the IRR of each alternative (use the trial-and-error method) % (Round to the nearest one decimal place) The IRR of Project 1 is The IRR of Project 2 is % (Round to the nearest one decimal place) $2,999 (Enter the project number). c. Perform the incremental IRR analysis to determine the project that is more economical: Incremental IRR =% (Round to the nearest one decimal place); Therefore, based on the incremental IRR, Project is more economical. d. Do the two methods produce the same recomendation for the most economical project?
The planning department of Abstract Office Supplies has been asked to determine whether the company should introduce a new computer desk next year. The department estimates that $7,000 of new manufacturing equipment will need to be purchased and that the cost of constructing each desk will be $200. The department also estimates that the revenue from each desk will be $550 a. Determine the revenue function R(x) from the sale of x desks. R(x) = Clear all Check answer View an example et more help - Help me solve this 9:05 PM 1/24/2022 L390 Y Insert Home End F12 F10 F11 F9 F7 F8 Esc F5 F6 F4 F3 F2 FnLock F1 & %23 $4 80 9. @ 7 2 3 4 Y
You own a wheat warehouse with a capacity of 20,000bushels. At the beginning of month 1, you have 6,000 bushels of wheat. Each month, wheat can be bought and sold at theprice per 1000 bushels given in Table 46.The sequence of events during each month is as follows:a You observe your initial stock of wheat.b You can sell any amount of wheat up to your initialstock at the current month’s selling price.c You can buy (at the current month’s buying price) asmuch wheat as you want, subject to the warehouse sizelimitation.Your goal is to formulate an LP that can be used to determine how to maximize the profit earned over the next 10months
A firm hires employees at five different skill levels P, Q, R, S, T. The shares of employment at these skill levels of total employment in 2010 is given in the pie chart as shown. There were a total of 600 employees in 2010 and the total employment increased by 15% from 2010 to 2016. The total employment at skill levels P, Q and R remained unchanged during this period. If the employment at skill level S increased by 40% from 2010 to 2016, how many employees were there at skill level T in 2016? Perceatuge ahireofskllis in 2010
1.5 A physician has ordered 37.5 mg of a particular drug over 15 minutes. If the drug was available as 2.5 mg/mL of solution, how many mL would you need to give cvery 15 seconds? 15 sec
An electronics retailer sells laptops at a steady rate of 7,500 per quarter. It costs the manufacturer $350 tomake each laptop, and they charge $400/laptop to the retailer. The manufacturer produces the laptop at asteady rate that matches demand, and incurs a fixed cost of $2,800 to fulfill each retail order. Both theretailer and the manufacturer have an annual holding cost percentage of 20%. The retailer places 10orders with the laptop manufacturer each quarter (which it determined from an EOQ calculation). What quantity discount should the manufacturer offer the retailer in order to minimize the total supplychain costs?
Q1: An item is manufactured by three machines A, B and C. Out of the total number of items manufactured during a specified period, 50% are manufactured on A, 30% on Band 20% on C. 2% of the items produced on A and 2% of items produced on B are defective, and 3% of these produced on C are defective. All the items are stored at one godown. One item is drawn at random and is found to be non-defective. What is the probability that it was manufactured on: 1-machine A? 2-machine C?
Q \Fill in the blank the correct word or phrase which is showing reason or result. 1) Large numbers of people from all over the world visit Petra, in Jordan, its beauty. A).so B).because of C).as a result D).because 2) One of the greatest achievements of Emperor Qin Shi Huang was the building of the first Great Wall of China to protect China from its enemies. Not all of his achievements were military, however, as he . introduced a common form of writing throughout the country. a.)in addition b.)plus c.)add d.)also 3) In ancient China, more than 700,000 workers and craftsmen took 38 years to complete the huge imperial palace, offices, and halls, all surrounded by a wall. Qin Shi Huang ordered an army to be built so that his palace would be protected. Emperor a.)add b.)also c.)plus d.)in addition 4 ) Historians are often required to learn languages such as latin read ancient manuscripts and inscriptions. a.)thus b.)as a result c.)in order to d.)therefore 5) In 79 CE Pompeii was covered…
Use the equations for the total cost C and total revenue R to find the number x of units a company must sell to break even. (Round to the nearest whole unit.) C = 8750x + 270,000, R = 9558x
RRIVING TIME You need to buy groceries at the supermarket, deposit a check at the credit union, and purchase a book at the bookstore. You can complete the errands in any order; however, you must start and end at your home. The driving time in minutes between each of these locations is given in the following figure. Credit union 8.5 Bookstore 4.5 11 Supermarket Home lQuestion: Find the least possible time to complete the TASK?
Four consumers are willing to pay these amounts for haircuts, and four haircutting businesses have these costs: Consumers' Willingness to Pay Firms' Costs Edison: $45 Firm A: $40 Kevin: $25 Firm B: $20 Maria: $15 Hilary: $35 Firm C: $10 Firm D: $30 Each firm has the capacity to produce only one haircut. For efficiency, should be given. Which businesses should cut hair? Check all that apply. Firm A Firm B Firm C Firm D Which consumers should have their hair cut? Check all that apply. Edison Hilary Kevin Maria The maximum possible total surplus is $
A resurfaced fl oor costs $5000 and will last 2 years. If money is worth 10 percent aftertaxes, how long must a new fl oor costing $19,000 last to be economically justifi ed? Thetax rate is 52 percent. For tax purposes a new fl oor can be written off in 1 year. Use sumof-the-years-digits depreciation. Use the capitalized cost method for your analysis.