Forecasting Exercise Every year the U of I hosts the Lionel Hampton Jazz Festival. Below you will find some issues that need to be forecast in order to provide the best experience possible to customers, develop effective plans, and deliver "profits" to businesses. How many schools (and students) will be attending? How many will attend Saturday night’s concert? (Lionel Hampton Jazz Festival Big Band) What will be room availability in Lewiston because of the festival? What should I charge for my hotel rooms during the busy weekend? Is there a threshold? How much more should Casa Lopez be ordering for Thursday, Friday, and Saturday? What will the economic impact be to the city of Moscow? Select two or three and write a double-spaced paper telling what you forecasted and how you came up with the forecast you made – discuss the mechanics of how you would develop your forecasts. The specific numbers are not as important as demonstrating a well thought out approach to your forecast.
In: Operations Management
Recently, the power of cloning to rescue endangered or extinct species was demonstrated by applying nuclear transfer methods to save the mouflon, a species of wild sheep (left half of figure). This result piqued a fair amount of general interest, because of its possible implications for the return of other, more exotic, species from the jaws of extinction (as pictured on the right). Suppose a wealthy investor came to you with a proposal to create a real-life Jurassic Park (naturally, with far more detailed strategy to contain the animals), asking for your scientific analysis of their plan to use SCNT to bring back dinosaurs.
a. Considering all of the materials and technical steps involved in the process of nuclear transfer, list three problems you envision will be encountered by their team of scientists.
b. Speculate on how a researcher might overcome each of the obstacles you identified in (a), or state why you feel they may be insurmountable.
c. Given your analysis in (a) and (b), briefly comment on whether you think that the wealthy investor’s plan is feasible.
In: Biology
The Marriott company (Marriott: Reducing Our Footprint) makes the following claim about its "sustainability strategy":
Our sustainability strategy supports business growth and reaches beyond the doors of our hotels to preserve and protect our planet’s natural resources. Marriott’s environmental goals are to:
• Further reduce energy and water consumption 20% by 2020
(Energy 20 percent per kWh/conditioned m2; Water 20 percent per
occupied room (POR). Baseline: 2007);
• Empower our hotel development partners to build green
hotels;
• Green our multi-billion dollar supply chain;
• Educate and inspire associates and guests to conserve and
preserve;
Address environmental challenges through innovative conservation initiatives including rainforest protection and water conservation.
Find statements from two other companies that detail their environmental; policy/sustainability strategy. Summarize those statements. Critically evaluate the policies/strategies - Are they good policies/strategies? Will they truly help the environment?
In: Operations Management
Identify the UCS, UCR, CS, and CR in the following examples:
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UCS |
UCR |
CS |
CR |
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1. Jamie was talked into riding on the roller coaster when she was 12. The ride absolutely terrified her. Now whenever she goes to the amusement park, she breaks into a cold sweat if she even looks at the roller coaster |
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2. Kim was sick all night after eating a bad fried oyster. Now, she says, the smell of ANYTHING frying makes her feel nauseated. |
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3. Sinbad was frightened when a barking spaniel lunged at the fence as Sinbad walked by. The next day, when Sinbad’s mother started to lead him by the house where the spaniel lives, Sinbad began to tremble and whimper. |
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4. Lassie drools whenever she hears the can opener. |
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5. Makoto was stung by a bee in the garden. Now, whenever he hears a buzzing sound, he starts to tremble. |
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6. Just smelling his girlfriend’s perfume makes Romeo feel happy and relaxed. |
In: Psychology
For this assignment, you play the role of an marketing analyst for an online travel site called GlobalTrekTravel (GTT, a fictitious online business used for this course). GTT is focused on international travelers and provides online booking tools for airfare, ground transportation, hotel and sight-seeing tours, travel insurance, language support with translation services, passport and visa document preparation, and medical immunization recommendations. In sum, GTT addresses all needs of an international business or holiday travelers to have successful journeys. GTT’s marketing focuses on this value proposition: “We give you integrated travel services for all your International business and personal travel needs, saving time and frustration. We stay current to the world’s everchanging travel conditions, reducing your travel stressors.”
Your objective is to help them better understand their customers and find ways to use digital channels and data to serve their needs. They are seeking a customer journey analysis, that will allow them to take appropriate action.
In: Operations Management
The Marriott company (Marriott: Reducing Our Footprint) makes the following claim about its "sustainability strategy":
Our sustainability strategy supports business growth and reaches beyond the doors of our hotels to preserve and protect our planet’s natural resources. Marriott’s environmental goals are to:
• Further reduce energy and water consumption 20% by 2020
(Energy 20 percent per kWh/conditioned m2; Water 20 percent per
occupied room (POR). Baseline: 2007);
• Empower our hotel development partners to build green
hotels;
• Green our multi-billion dollar supply chain;
• Educate and inspire associates and guests to conserve and
preserve;
Address environmental challenges through innovative conservation initiatives including rainforest protection and water conservation.
Find statements from two other companies that detail their environmental; policy/sustainability strategy. Summarize those statements. Critically evaluate the policies/strategies - Are they good policies/strategies? Will they truly help the environment?
In: Operations Management
Henry Jones is the owner of True Adventure Vacations, Inc. He is considering the purchase of computer equipment that will facilitate airline and hotel accommodations. He paid a consultant a $20,000 fee to identify the best computer system and to identify the best computer system and to identify related costs of the project. The computer will cost $300,000. Installation will cost $20,000 and training of personnel will cost $10,000. He will incur $50,000 in advertising costs to kick off the new improved services that will feature worldwide accommodations. He projects that there will be a $200,000 increase in sales annually over the 5 year life of the project. Costs are 60% of sales. The computer has a five year useful life and a salvage value of $30,000. Jones will use straight line depreciation. Working capital investment is $10,000 and will be fully recovered at the termination of the project in five years.
In: Finance
Problem 1
a) Bernard operates a chocolate shop in Paris. The annual demand for chocolatecovered cherries is 2,500 units. The setup cost is $15 per order and the unit cost is $0.6. The holding cost per unit per year is 25% of the unit cost. Backordering is allowed at a cost of $0.6/unit/year. What is the optimum number of units per order and the corresponding backorder level? What is the expected number of orders per year? Assuming a 250 day working year, what is the expected time between orders? What are the total annual inventory costs? If delivery of the chocolates takes 2 days, at what level of stock should a new order be placed?
b) Suppose now that Bernard is offered the following whole unit discount model: If Bernard buys 400 units or less, it will cost him $0.7/unit, and if he buys more than 400 units it will cost him $0.5/unit. Will Bernard buys accept this offer?
In: Advanced Math
In a study, researchers wanted to measure the effect of alcohol on the hippocampal region, the portion of the brain responsible for long-term memory storage, in adolescents. The researchers randomly selected 19 adolescents with alcohol use disorders to determine whether the hippocampal volumes in the alcohol adolescents were less than the normal volume of 9.02 cm3. An analysis of the sample data revealed that the hippocampal volume is approximately normal with x=8.06 cm3 and s=0.7 cm3.
Conduct the appropriate test at the a=0.01 level of signifcance.
State the null and alternative hypotheses
Ho:u (<, > , = , =/)______________
H1:(u >,<, =,==/)____________
(type integers or decimals. Do not round)
identify the t-statistic
to=____________________(Round to two decimals places as needed)
identify the P-value.
P-value=________________(round to three decimal places as needed)
Make a conclusion regarding the hypothesis.
Fail to reject or Reject the null hypothesis. There is or is not sufficient evidence to claim that the mean hippocampal volume is greater than, less than, or equal than cm3.
In: Statistics and Probability
Suppose a friend is completing another physics assignment in their chair at their desk and you take the opportunity to turn this scenario into the physics question you now must complete. Your friend and chair have a combined constant moment of inertia of 5.5 kg m2, and the chair can freely rotate. Now your friend picks up two solid bricks (each of mass 1.7 kg) they accidentally collected from one of the campus buildings, and experiment with rotational kinematics. Supposing they hold the masses in each hand, arms outstretched, at distance of 0.7 m from their axis of rotation, and have an initial angular speed of 2.7 revs/s.
(a) Calculate the distance in m of each brick from your friend’s axis of rotation if they pull the bricks inward such that their rotational speed has increased to 3.2 revs/s.
(b) What is the initial rotational kinetic energy of the system?
(c) What is the final rotational kinetic energy of the system?
In: Physics