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Norrington Airport has begun to take in regional jet flights, and needs to expand its air traffic control facilities. It has received three proposals from different agencies for how it can proceed to modernize its facilities. Plan A will cost the airport a total of $325,200 at present capacity, but if the airport traffic increases by at least 160% it will actually net the airport $34,040. Plan B will cost the airport a total of only $126,000 at present capacity, and if the airport traffic increases by at least 160% the airport will make $65,700. Plan C will cost the airport only $96,000 to implement, but if the airport traffic increases by at least 160% the system will be over capacity and the airport will make only $12,800. According to present levels of demand, the chance that airport traffic will increase at least 160% once the new system is put into place is estimated at 72%. Create a payoff table and a decision tree for this situation. Calculate the best options using maximax, maximin, and equal likelihood criteria (ignoring the probabilities), and then calculate the expected value for each situation. Which choice should the airport make?
Grayson County regional health Center is a private, not-for-profit, 225-bed acute care hospital located in the rural community in the southeastern state. How would you identify the most important reasons for the current shortage? How will you develo..
your team is working on the opportunity assessment when you are notified there will be room on the agenda of the senior
1. a service process design flowchart is referred to as a service blueprint to emphasize what?2. even though they
Line will operate for 450 minutes per day. Illustrate what is minimum number of workstation needed if maximum output rate is to be sought. Illustrate what range of output is theoretically possible for line.
A cigar company stocks Cuban cigars that have variable lead times because of the difficulty in importing the product. Lead time is normally distributed with an average of 4 weeks and a standard deviation of 1 weeks. Average demand is also normally di..
Within U.S.? culture, women are characterized as? reactive, while men are characterized as proactive. Explain these characteristics. Explain how verbal and nonverbal communication problems may be avoided in? female-male relationships. Summarize the a..
What is a core competence? Why is it essential to the success of the firm? Discuss the evolution of strategy (include in you answer which two strategies are not viable in the long run and how they are likely to evolve). How does cost become important..
The operations manager of an ice cream store feels the demand for ice cream may be related to the number of radio commercials the company aired. The manager has collected the following data: demand for ice cream 2,6,9,5,11,8, while number of commerci..
Explain the BEST strategic planning and implementation/execution you have observed. Discuss fully. Explain the WORST strategic planning and implementation?
Demand for carpet washers at a Publix store in Gainesville is shown in the following: Demand (units/day) (0, 1, 2, 3, 4, 5) and Probability (0.25, 0.15, 0.20, 0.25, 0.10, 0.05) respectively. Assuming that Publix’s stocking decision is optimal, what i..
Currently the manager orders once a month. Explain how much could the industry save annually in ordering also carrying costs by utilizing the EOQ.
How it is a product of denationalization, whereby markets are global and cutting across country borders, including the following
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