Questions
The table shows both the prospective profits and losses for a company (in thousands of dollars),...

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.

           

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

  1. if a Maximin strategy is used.
  2. if a Maximax strategy is used.
  3. if Minimax Regret is the strategy.
  4. if Equal Likelihood is the strategy.
  5. What is the EVPI?

States of Nature

Pr = 0.30

Pr = 0.40

Pr = 0.30

Decision

s1

s2

s3

d1

d2

d3

d4

In: Operations Management

It is desired to locate a control on a machine. The control will be located right...

  1. It is desired to locate a control on a machine. The control will be located right in front of the worker at shoulder height. The worker population that is going to use the machine will include both male and female workers
  1. Where should the control be located to include 90% of the population?
  2. If the control is located at a reach distance of 82.5 cm, what percentile of the female population is being excluded (not being able to reach normally the control).

In: Operations Management

At the start of football season, the ticket office gets very busy the day before the...

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.

  1. What is the average number of people waiting for tickets?

  1. What is the average time that a person will spend at the ticket office?

  1. What proportion of time is the server busy?

  1. What is the average number of people receiving and waiting to receive tickets?

  1. What is the average time that a person will spend waiting in line at the ticket office?

In: Operations Management

To perform a PCI DSS compliance audit, what elements must be in your audit checklist that...

  1. To perform a PCI DSS compliance audit, what elements must be in your audit checklist that pertain to the System/Application Domain?

  2. 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?

  3. 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...

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?...

  1. What are some options, according to PCI DSS, to protect external-facing Web applications from known attacks?

  2. 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”?

  3. 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...

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...

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...

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

a. liquidity ratios.
b. COGS ratios.
c. leverage ratios.

d. profitability ratios.

You are considering purchasing a small business. In order to analyze whether or not the asking price is a good deal or not, you request the company’s financial information. In response, the current business owner gives you her income statement. The information you can learn from the income statement is:

a. revenues, expenditures, and net profit or loss.
b. amount owed to lenders.
c. the financing and investing activities during an accounting period.
d. cash inflows and cash outflows.

In: Operations Management

When forecasting the number of infected people from COVID-19, what kind of forecasting model you think...

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...

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...

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.

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...

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...

Choose an article relating to a current business ethics issue being faced by a business or industry and attach it in your discussion.

1. Identify and analyze the issue.
2. Describe if management handled the situation appropriately, and if not, what could have been done differently?
3. What policies and best practices apply to the ethics issue?
4. What is the strength of the company’s ethical culture?
5. How effective are the policies that are in place to manage the risk to the company?
6. How would this issue have been addressed if it occurred in a European country?

In: Operations Management