The table shows both the prospective profits and losses for a company (in thousands of dollars), depending on what decision is made and what state of nature occurs. Use the information to determine what the company should do. State the decision number and its value. Do all calculations within the spaces provided.
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States of Nature |
||||||
|
Pr = 0.30 |
Pr = 0.40 |
Pr = 0.30 |
||||
|
Decision |
s1 |
s2 |
s3 |
|||
|
d1 |
30 |
80 |
-30 |
|||
|
d2 |
100 |
30 |
-40 |
|||
|
d3 |
-80 |
-10 |
120 |
|||
|
d4 |
20 |
20 |
20 |
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States of Nature |
||||
|
Pr = 0.30 |
Pr = 0.40 |
Pr = 0.30 |
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|
Decision |
s1 |
s2 |
s3 |
|
|
d1 |
||||
|
d2 |
||||
|
d3 |
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|
d4 |
||||
In: Operations Management
In: Operations Management
At the start of football season, the ticket office gets very busy the day before the first game. Customers arrive at the rate of five every 15 minutes, and the average time to transact business is 2 minutes.
In: Operations Management
To perform a PCI DSS compliance audit, what elements must be in your audit checklist that pertain to the System/Application Domain?
As per the SAQ-D and Attestation of Compliance, what are the four major elements a merchant must achieve as part of PCI DSS compliance?
Which requirements in PCI DSS SAQ-D apply to vulnerability assessment and vulnerability management for production credit card transaction-processing servers?
In: Operations Management
3. The strategic alliances notes discuss several reasons for forming alliances. What is the principal difference between a strategic alliance that aims to create value through tacit collusion and a strategic alliance that aims to create value through other means? How can you determine whether two firms are forming an alliance to facilitate tacit collusion or are forming an alliance for other goals?
In: Operations Management
What are some options, according to PCI DSS, to protect external-facing Web applications from known attacks?
To perform a PCI DSS compliance audit on your e-commerce Web site, what should you incorporate into Requirement #6, “Develop and Maintain Secure Systems & Applications”?
What do you recommend this organization implement for privacy data storage in long- term data storage devices?
In: Operations Management
Compare Ocimum’s strategy with the strategies of other players in the industry? How is it similar to and different from the strategies of the other players?
In: Operations Management
After reading Chapter 4 of Shackleton's Way answer the question: How did Shackleton get the best from each individual on his crew?
In: Operations Management
You have recently been asked to leave your current job with a large company so you can run your family business. Many members of your family will rely on that business to pay their bills for the next few years. The company has grown over the past decade and has taken on a significant amount of short-term debt. Your banker paid you a visit to discuss her calculations of various ratios for your business. The banker’s primary concern is whether you’ll have the ability to stay current with short-term debt payments, so she’s most likely to focus on your
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In: Operations Management
When forecasting the number of infected people from COVID-19, what kind of forecasting model you think would be appropriate? For example, exponential smoothing, linear trend, or moving average. Please choose one or more and elaborate the reasons that you think your selected forecasting model is appropriate.
Finally, what is your forecasted number of infected people from COVID-19 based on your selected forecasting model? Please explain your reasons / procedures to get your forecasted number.
In: Operations Management
National Wing Company (NWC) is gearing up for the new B-48
contract. Currently NWC has 100 equally qualified workers. Over the
next three months NWC has made the following commitments for wing
production:
|
Month |
Wing Production |
|
May |
20 |
|
June |
24 |
|
July |
30 |
Each worker can either be placed in production or can train new
recruits. A new recruit can be trained to be an apprentice in one
month. The next month, he, himself, becomes a qualified worker
(after two months from the start of training). Each trainer can
train two recruits. The production rate and salary per employee is
estimated below.
|
Employee |
Production Rate (Wings/Month) |
Salary Per Month |
|
Production |
.6 |
$3,000 |
|
Trainer |
.3 |
3,300 |
|
Apprentice |
.4 |
2,600 |
|
Recruit |
.05 |
2,200 |
At the end of July, NWC wishes to have no recruits or apprentices but have at least 140 full-time workers. Formulate and solve a linear program for NWC to accomplish this at minimum total cost.
(Please provide excel sheets)
In: Operations Management
Explain the kind of decisions a person might consider if he decides to go ahead and purchase Odoo.
In: Operations Management
True or false? The all patient case-mix index measures the proportion of inpatients versus outpatients.
In: Operations Management
Shell Malaysia has use Star CRM solutions, analyze and evaluate in operational; analytic; and collaborative functions of the chosen CRM and highlight their benefits to that particular industry or a business entity. (explain in detail)
In: Operations Management
Choose an article relating to a current business ethics issue being faced by a business or industry and attach it in your discussion.
In: Operations Management