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In any business, the quality of decisions is often related to the quality of information. For instance, effective product marketing entails combining the right offering (keeping in mind that products are bundles of attributes and different bundles, or combinations of attributes, will appeal to different prospective buyers) with the right target buyer group. Knowing what constitutes the right offering and the right prospective buyer group usually involves data analysis. In general, using data to shape or guide business decisions entails a progression along the continuum of data ? information ? knowledge.
What is the difference between data, information, and knowledge? In your opinion, when does data become information and information become knowledge? Support your answer with relevant examples. Why is meaningful and correct data analysis-statistics-important in using the volumes of available business data?
Can a factory be fast, dependable also flexible produce high quality product also still provide poor service from a consumer perspective.
Why is operations management relevant to managers in other organization functions? Base your discussion on your experience of operations within your organization or an organization with which you are familiar
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Not constructing a new factory would result in no additional revenue being generated because the current factories cannot produce these new products. Construct a decision tree to help Expando make the best decision.
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Mathematical Programming and Optimisation: Build and describe a prototype model Use your model to recommend a schedule of burning and, if required buying fuels
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Discuss pitfalls to this strategy and potential impact to performance of Panera Bread and select 1 of its competitors and discuss cons that Panera has with competitor and explain how se cons may be overcome.
What is the net cash outflow for the new machine after considering the sale of the old machine? The firm's tax rate for ordinary income is 30%
What is the forecast for the Period 7 using a 3-period weighted moving average technique (use a weight of 3 for last period's value, a weight of 2 for the period before
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