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Dalton and Carla run a small bicycle shop called "D n C"Bicycles. They must order bicycles for the coming season. Orders for the bicycle must be placed in quantities of twenty(20).The cost per bicycle is $70 if they order 20,$67 if they order 40,$65 if they order 60 and $64 if they order 80.The bicycles will be sold for $100 each. Any bicycles left over at the end of the season can be sold (for certain)at $42 each. If Dalton and Carla run out of bicycles during the season, then they will suffer a loss of "goodwill" among their customers. They estimate this goodwill loss to be $8 per customer who was unable to buy a bicycle. Dalton and Clara estimate that the demand for bicycles this season will be 10, 30, 50, or 70 bicycles. a. Construct a decision table b. Determine the maximax and the maximum decisions c. Construct opportunity loss table and determine the minimax regret decision d. If the probabilities of the demand will be 10, 30, 50 or 70 bicycles are 0.2,0.4,0.3, and 0.1 respectively, what is your best choice using EMV criterion.
A nursing home contracts with an HMO for skilled nursing care at $2.00 PMPM. If costs are expected to average $120 per day, what is the maximum utilization of days per 1,000 member
Role or Forecasting in capacity Planning The marketing department plays a major role in providing demand forecasts based on which both long term as well as short term capacity p
You are currently an intern working for the largest law firm in Alabama. Your mentor and senior attorney introduces you to a new client, Dick Jefferson, the owner of House Doctor,
A recently negotiated union contract allows workers in a shipping department 21 minutes for rest, 12 minutes for personal time, and 15 minutes for delays for each four hours worked
The percentage of value of shipments that come from materials for the average manufacturer is: a. greater than or equal to 40 and less than or equal to 49 percent. b. greater than
1. Discuss how you interpret the statement 'ERP is the 'meat and potatoes' of the organisation'. 2. What are the key issues when implementing an ERP system? 3. How will tra
1) Discuss the differences between transnationals and global corporations. 2) Compare political risk in the US to that of Egypt. Is there more in one country and what is the imp
Heather Adams, production manager for a Colorado exercise equipment, needs to schedule an order for 50 Ultimate Steppers, which are to be shipped in week 8. Subscripts indicate qua
In detail, express your opinion regarding the "Comparable Worth" issue.
100-day workout is the term given to an execution driven process where interventions begin immediately, not after a protracted period.
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