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The Steak and Chop Butcher Shop purchases steak from a local meatpacking house. The meat is purchased on Monday at $2.00 per pound, and the shop sells the steak for $3.00 per pound. Any steak left over at the end of the week is sold to a local zoo for $.50 per pound . The possible demands for steak and the probability of each are shown in the following table:
Demand (lb.) Probability20 .1021 .2022 .3023 .3024 .10 1.00
The shop must decide how much steak to order in a week. Using Excel, construct a payoff table for this decision situation and determine the amount of steak that should be ordered, using expected value.
Illustrate what is the productivity. Illustrate what is the main assumption that requires holding true in order for these computed answers to be valid.
The subsequent data are monthly sales of jeans at a local department store. The buyer would like to forecast sales of jeans for the next month, July. Compare the forecasts using MAD.
Illustrate what other factors are relevant to this issue. Explain how do the changes in assumptions mentioned by the other managers affect the proposal. Illustrate what position should Jim take.
Explain how organizational behaviour influences us in our workplace. Any ideas about explain how you might be able to improve explain how you get along in your work.
Shoe Stores carries a basic black dress shoe for men which sell at a rate of 500 each quarter. Their current policy is to order 500 per quarter, with a fixed cost of $30/order. Annual holding cost is 20% of cost of items held. Subsequent cost stru..
When the value of a loyal consumer (VLC) market segment is high, should these consumers the given premium goods also services for premium price.
Prepare a material requirements plan for component J. Suppose which in week 4 quantity of E needed is changed from 80 to 70. Planed order releases through week 3 have all been executed.
A certain farming organization operates three farms of the comparable productivity. The output of each farm is limited both by usable acreage and by amount of water available for irrigation.
The management has set a standard which every employee should be able to answer at least 400 e-mails during every shift. Computes the tact time based on the information given.
The Electrotech Corporation manufactures two industrial-sized electrical devices: generators also alternators. Both of these products need wiring also testing during the assembly process. Conclude the optimal solution to this problem utilizing leve..
A drug company produces the drug NasaMist from four chemicals. Find out the cheapest manner of producing today's batch of NasaMist.
An airplane flew for 4.23 hours with a 25.5-km/hr tail wind. The return flight against the same wind took 4.97 hours. Find out the speed of the plane in still air.
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