Reference no: EM131888236
This is an operation research problem.
During the summer, Olympic swimmer Adam Johnson swims every day. On sunny summer days, he goes to an outdoor pool, where he may swim for no charge.
On rainy days, he must go to a domed pool. At the beginning of the summer, he has the option of purchasing a $15 season pass to the domed pool, which allows him use for the entire summer.
If he doesn't buy the season pass, he must pay $1 each time he goes there. Past meteorological records indicate that there is a 60% chance that the summer will be sunny (in which case there is an average of 6 rainy days during the summer) and a 40% chance the summer will be rainy (an average of 30 rainy days during the summer).
Before the summer begins, Adam has the option of purchasing a long-range weather forecast for $1.
The forecast predicts a sunny summer 80% of the time and a rainy summer 20% of the time. If the forecast predicts a sunny summer, there is a 70% chance that the summer will actually be sunny.
If the forecast predicts a rainy summer, there is an 80% chance that the summer will actually be rainy. Assuming that Adam's goal is to minimize his total expected cost for the summer, what should he do? Also find EVSI and EVPI
Determine the effect of increased machine utilization
: Determine the effect of increased machine utilization on the hourly rate compared to the rate determined in (a).
|
Should the goal of the firm take into consideration
: Should the goal of the firm take into consideration the other social elements (e.g., the environment, the welfare of the community, and so forth)?
|
How many young are typically born at once
: How many young are typically born at once? How long do the young receive parental care? What is the approximate world-wide population size?
|
Identify the optimal solution for the frandec company
: Identify the optimal solution for the Frandec Company - how many frames, supports and straps should be manufactured.
|
Find evsi and evpi about the research problem
: During the summer, Olympic swimmer Adam Johnson swims every day. On sunny summer days, he goes to an outdoor pool, where he may swim for no charge.
|
How you have prepared better for the meeting with physician
: You are the practice manager of Docs R Us, Ltd., a large multispecialty medical practice. How could you have prepared better for the meeting with the physician?
|
Identify the driving forces of change over the past century
: Give a historical perspective of U.S. healthcare delivery for the past 100 years. compare and contrast past delivery methods with current delivery models.
|
What do you consider to be the top three disasters
: Interview your contact, asking the following questions: What do you consider to be the top three disasters for which you prepare?
|
Analyze fedexs supply chain from both product and service
: Analyze FedEx's supply chain from both product and service standpoints.Analyze FedEx's most important value points in terms of process, products, and services.
|