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The director of ski school at a large resort must decide how many private ski instructors to hire for ski season. Her goal is to maximize expected revenue per day. Each ski instructor earns $95 per day, and gets paid for showing up even if there are no students to teach. The demand for classes varies each day. Last season, the demand for private lessons varied between five and ten, with five instructors required on 8 days, six required on 15 days, seven required on 24 days, eight required on 17 days, nine required on 12 days, and ten instructors required on 5 days. Each ski student spends $250 for a full day private lesson with an instructor.
a) According to EV, how many instructors should the director hire?
b) Calculate the EVPI. Should the director invest $350 in a study that would accurately predict the number of private lessons?
Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..
Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..
Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..
An analysis of the holding costs, including the appropriate annual holding cost rate.
Briefly explain Evolution and contributor of Operations management.
A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..
Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.
Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.
Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.
Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.
Ccompare the effectiveness of different leadership styles in different organizations
Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.
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