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A used car dealer has just purchased a year-old sports car for $10,000. The dealer can wholesale the car now for $10,500, but the wholesale value of the car will decline $200 per month as the car gets older. After quite a bit of experience with similar cars, the dealer believes that advertising the car for $12,000 will result in a sale at a price of $11,500, if the right buyer comes along. The probability that the right buyer will come along in the first month is 0.4; if it is not sold then, the probability is 0.3 for the second month. If it is not sold in the second month, the probability the right buyer will come along in the third month is 0.2. If it is not sold in the third month, the probability the right buyer will come along in the fourth month is 0.1. If it is not sold during the fourth month, it will be sold at the wholesale for (($10,500-4 x $200) + $9,700). Advertising costs $50 per month. What should the dealer do? Make sure that your decision rule explains what should be done at the end of each month that the car has not been sold. Just need a formula for decision tree approach
For a customer service operation, elucidate how each of these two approaches could be used to address the complaints which are being received from the customers about the poor customer service.
A linear programming model consists of decision variables, constraints, but no objective function. In a linear programming model, the number of constraints must be less than the number of decision variables.
An organization recently developed a new compensation system, which has moved the organization from a static grade-based salary to a performance-based compensation system with possible yearly increases determined by yearly performance reviews.
The Fed is concerned with interest rate levels and the possibilitiy of inflation. Given the gollowing information, calculate the expected inflation premiums over hte next three years.
find out examples of systems analysis application outside of software development for the above please emphasize on the systems analysis bit - discuss why systems analysis has been:
What is the "relative" wage rate (in $) of operating Zooland, after taking productivity differences into account?
When the engineers came back to work at 3:00 p.m. on Friday, which management tactic did the company employ? What message did management send through this tactic
Supposed the objective function is changed to, do you need to re-graph the feasible region of this LP. Why. Illustrate what is the solution for the new LP.
C-Spec, Inc., is attempting to determine whether an existing machine is capable of milling an engine part that has a key specification of 4+6 .003 inches.
The local convenience store makes personal pan pizzas. Currently, their oven can produce 50 pizzas per hour. It has a fiixed cost of $2,000, and a variable cost of $0.25 per pizza.
With regard to "Fair Trade Marketing: An Alternative System for Globalization and Development," how can the apparent conflict between marketing management's emphasis
Harry is a senior manager at Pine and Acorn Consultancy. He has been assigned the task of establishing the training objectives. First, he makes a list of the individuals to be trained.
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