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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?
Why would a company choose to follow rather than lead technological innovations? Is the potential advantage of technological leadership greater when innovations are occuring rapidly, or is it better in this case to follow?
Mt. Sinai Hospital in New Orleans is a large, private, 600-bed facility, complete with laboratories, operating rooms, and x-ray equipment. In seeking to increase revenues, Mt. Sinai’s administration has decided to make a 90-bed addition on a portion ..
A company manufactures hair dryers. It buys some of the components, but it makes the heating element, which it can produce at the rate of 853 per day. Hair dryers are assembled daily, 249 days a year, at a rate of 320 per day. Approximately how many ..
Describe the business strategy of the organization (be sure to include sufficient detail to provide the reader with a clear understanding of the strategy).
Assume that a salary range in your company has a midpoint of $31,000. The range spread is 35%. What is the minimum of the range? If an employee’s pay is $28,000, what is that employee’s comp ratio?
A consultant had administered a questionnaire to some 285 employees using a simple random sampling procedure. As she looked at the responses, she suspected that two questions might not have been clear to the respondents. She would like to know if her..
Define a business scenario, and explain the difficulties and management issues as they pertain to (choose one) (a) wired and wireless communication networks. (b) systems security and control. (c) Internet, intranets, and extranets. (d) Cloud computin..
Operations Management (BUSS1501) Elaborate the advantages of using capacity management for solving capacity issues in any organization and what is forecasting and how does it help in solving problems in an organization
Haley Photocopying purchases paper from an? out-of-state vendor. Average weekly demand for paper is 110 cartons per week for which Haley pays ?$25 per carton. Inbound shipments from the vendor average 1,150 cartons with an average lead time of 3 week..
If your goal is to determine whether or not "social smoking" is real, what metric would you use to compile the data? What approach would you use to gather the data?
Consider a set of three equally likely symbols whose signal constellation consists of the vertices of an equilateral triangle. Show that these three symbols constitute a simplex code.
it costs approximately 1 to execute a transaction at a bank such as shifting money from one account to another. how
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