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Renesmee Corporation is a chemical company. The research and development manager is trying to decide whether or not to develop a new solvent that would work at all conditions. It is thought that the solvent project may be a major success with an estimated value of $ 500,000, a moderate success with an estimated value of $200,000 since it can be sold to another company to help with its current project or a total failure. If the project is a failure it will cost the company $450,000.Based on the subjective judgment of the manager, the following probabilities are assigned to the three possibilities. P( major success) = 0.40 P( moderate success) = 0.30 P( failure) = 0.30 a) Construct a decision tree for this problem. What is the optimal decision strategy and its expected value? b) What is the expected value of perfect information? Explain what it means.
Discuss this impact in terms of an organization with which you are familiar. Explain how does supply chain affect each of se comp1nts or does it.
Explain how a decrease in setup time can lead to a decrease in average amount of inventory an industry holds. Illustrate what do you think. Under illustrate what conditions (if any) should a business install a forced-distribution rating system for ..
A gas containing Nitrogen, benzene, and tolune is in equilibrium with a 40 mole% benzene 60 % toluene liquid mixture
Each week a sample of 100 residents is questioned on their feelings towards project. Results to date are shown below. Analyze this data using an appropriate control chart with a 5% risk of Type I error.
Can observation method be used to determine consumer preference for weather related information. If so which observational method would you use also why.
Federal Land Bank (FLB) filed an action to foreclose a mortgage on property owned by Howard and Harriet Franklin. Before trial, FLB's attorney wrote to the Franklin's attorney inviting settlement offers.
Elucidate what is the probability which a random number from the triangular distribution is less than 400. Elucidate what is this probability for the normal distribution.
Identify which that you believe to be most important, and describe at least one strategic response.
Discuss the impact of involving your employees in decision-making. What are the pros and cons? Should employees be involved in critical organizational decisions
An important part of the service model is the distribution of supplementary services through physical or electronic channels of distribution. Within human resource management, the channels of distribution are quite different from traditional chann..
IBM eliminated 14,500 jobs mostly in Europe also those reportedly hired a thousand additional employees in India. Discuss the implications for your current or future caress choices also the kinds of companies or organizations you would desire to wor..
Analyze the process of developing qualified workers and make at least one recommendation for improvement that would benefit any organization. Explain your rationale
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