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Chelsea Truman sells celebrity magazines on Sunday morning in an area surrounded by three busy shopping centers. Demand for the magazines is distributed as shown in the following table: DEMAND PROBABILITY 50 0.05 75 0.10 100 0.25 125 0.30 150 0.20 175 0.10 Chelsea has decided to order 100 magazines from her supplier. Chelsea pays $2 for each magazine she orders and sells each magazine for $3. Unsold magazines can be returned to the supplier for $0.75. (a) Simulate 1 year (52 Sundays) of operation to calculate Chelsea’s total yearly profit. Replicate this calculation N times. What is the average yearly profit? (b) Chelsea would like to investigate the profit ability of ordering 50, 100, 150, and 175 magazines at the start of each Sunday. Which order quantity would you recommend? Why? Is this solved using a random numbers generator program? Excel =RAND() ? Excel =RANDBETWEEN()? Can you give me an example of how to enter the values into =RAND() and =RANDBETWEEN()
First find out and explain what type of exchange rate system does India exercise currently. Then, write a comprehensive paper (more than one page) on the pros and cons of fixed and floating exchange rate systems (depending which type your country is ..
The daily demand for 52" plasma TV's at Sarah's Discount Store is normally distributed, with an average of 5 and a standard deviation of 2 units. The lead time for a shipment of TV's is 10 days and is fairly constant.
The cursor on your computer screen sits blinking at the end of the scathing email you had just read and to which you were request to reply. The sender of the email was the CEO, Mr. West, who is obviously frustrated and concerned about the upcoming st..
You are the top managers of a rapidly growing company that has been having great success in developing websites for large Fortune 500 companies. Currently, you employ over 150 highly skilled and qualified programmers, and to date you have operated wi..
In a job shop, effective capacity is only 49 percent of design capacity, and actual output is 60 percent of effective output. What design capacity would be needed to achieve an actual output of 20 jobs per week?
How would the EBQ change if the set-up costs were reduced by 50 percent, and the holding costs were reassessed by 40 percent, taking account of the opportunity costs of capital at TEP?
What is a performance gap? What approach would you take to closing a performance gap? What is an opportunity gap? How would you use strategy to close an opportunity gap?
Computer fraud can affect any business. Firms like Target & Home Depot have felt the wrath of computer fraud. Even the Federal Government is not immune from outsiders breaking into systems and compromising data. To support your response, perform a se..
Tim Aston had changed employers three months ago. His new position was project manager. At first he had stars in his eyes about becoming the best project manager that his company had ever seen. Now, he wasn’t sure if project management was worth the ..
Discussion Present recent news stories about unlawful terminations that resulted in fines or other action against the employer. Discussion You have been named safety director of your company. Outline the steps you would follow in developing an effect..
Which one of the following statements concerning supplier relationship process is FALSE?
Describe the purpose of Statistical Process Control (SPC). Are there certain organizations where this process is more effective? Not as effective? Why?
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