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José and María run a small surf-board shop in Rincon. They must order surf-boards for the coming season. Orders for the surf-boards must be placed in quantities of twenty (20). The cost per surf-board is $70 if they order 20, $67 if they order 40, $65 if they order 60, and $64 if they order 80. The surf-boards will be sold for $100 each. Any surf-boards left over at the end of the season can be sold (for certain) at $45 each. If José and María run out of surf-boards during the season, then they will suffer a loss of "goodwill" among their customers. They estimate this goodwill loss to be $5 per customer who was unable to buy a surf-board. José and María estimate that the demand for surf-boards this season will be 10, 30, 50, or 70 surf-boards with probabilities of 0.2, 0.4, 0.3, and 0.1 respectively.
Explain how many surf-boards they should buy, based on the Expected Value Criterion, Minimax Criterion and the Maximax criterion. Which is more reliable and why?
What are the characteristics of a transformational leader. How do they transform their followers? Select someone that you believe to be a transformational leader, and illustrate your points.
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The weekly requirement of a part is 950 units. The order cost is $85 per order, the holding cost is $56 per unit per year, and the part cost is $850 per unit. The firm operates twelve months per year. Compute the (a) EOQ, (b) annual holding cost, (c)..
What are the most common methods of organizing prospect information?
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The S&OP team at Kansas Furniture has received estimates of demand requirements as shown in the table. Assuming stock out costs for lost sales of $125 per unit, inventory carrying costs of $20 per unit per month, and zero beginning and ending invento..
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Please discuss the major difference between empathic (active) listening and the other levels of listening presented by Stephen Covey. Also, please discuss, using graphs, the process of dialogue and its potential in changing people’s mental models and..
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