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Myraa airlines decided to offer direct service from Akron to Clearwater beach, Florida. Management must decide between full-price service using a company’s new fleet of jet aircraft and a discount-service using smaller capacity commuter planes. Management developed estimates of the contribution to profit for each type of service based upon two possible levels of demand for service on Clearwater beach: high, moderate, and low. The following table shows the estimated quarterly profits (in thousands of dollars): Service Demand for service High Medium Low Full price 900 760 –430 Discount 710 650 350 The probabilities for the demand is P(High) = 0.3, P(Medium) = 0.5, and P(Low) = 0.2, respectively. a. What is the optimal decision strategy if perfect information were available? b. What is the expected value for the decision strategy developed in part a? c. Using the expected value approach, what is the recommended decision without perfect information? What is its expected value? d. What is the expected value of perfect information?
Some methods of initial assessment appear to be more useful than others. If you were starting your own business, which initial assessment methods would you use and why?
Explain your understanding of transformational leaders and transactional leaders. Next, do you consider the leader of your project organization to be a transformational or transactional leader? Why? Provide specific examples to support your positi..
A company produces two products that are processed on two assembly lines. Assembly line 1 has 100 available hours, and assembly line 2 has 42 available hours. Product 1 requires 10 hours of processing time on line 1 and product 2 requires 14 hours of..
Sandy believes her employer has breached the employment agreement and she should be paid for the two weeks between jobs. Is she right? Explain.
What are the likely motivations of the first group and what probably incites the nationalist groups to oppose headscarves?
Describe the process that you plan to use to conduct research, identify findings, and develop the Comprehensive Project on "Hotel Escargot" scenario.
Whether a company grows, survives, and makes a profit could depend upon how their products or services are defined." What does this statement mean to a company or to consumer perception?
In a job shop, effective capacity is only 48 percent of design capacity, and actual output is 58 percent of effective output. What design capacity would be needed to achieve an actual output of 11 jobs per week? What is its effective capacity?
Suppose the production manager is asked to reduce the safety stock of this item by 50%. If she does so, what will the new service probability be?Type your question here.
The initial cost of an investment is $65,000 and the cost of the capital is 12%. The return is $15,000 per year for 8 years. Based on the given information, the net present value of the investment is? round to the nearest whole number
give your opinion after reviewing the scope planning and wbs documents prepared by the just-in-time training project
Which of the following would be avoided in a formal essay written for class? first person statements, contractions, and slang third person statements, technical language, and research information appropriate word choice, precise language, and correct..
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