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Q. Dick Holliday is not sure illustrating what he should do. He can build either a large video rental section or a small 1 in his drugstore. He can also gar additional information or simply do nothing. If he gars additional information, results could suggest either a positive or a negative market. Holliday believes that re is a fifty-fifty chance that information will be positive. If rental market is favourable, Holliday will earn $15,000 with a large section or $5,000 with a small. Within an unfavourable video-rental market, explain however, Holliday could lose $20,000 with a large section or $10,000 with a small section. Without gathering additional information, Holliday approximates that probability of a favourable rental market is 0.7. A positive report from study would increase probability of a favourable rent market to 0.9. Furthermore, a negative report from additional information would decrease probability of a favourable rental market to 0.4. Of course, Holliday could forget all se numbers and neither builds video sections nor gars additional information. Illustrate what is your advice to Holliday? Illustrate what is expected value of perfect information?
How do you formulate this as a goal programming problem? Suppose that all of goals are equally important. Mick Garcia, a certified financial planner (CFP) has been asked by client to invest $250,000. This money may be placed in stocks, bonds, or a m..
The performance rating for a particular welder was established at ninety-2 % (92% ). Additionally, every welder is granted a twelve % (12%) allowance for personal needs, fatigue also routine delays.Elucidate what is observed time (OT) for this job.
Fresh Foods is considering exchanging the locations of the dry groceries department (A) also the health also beauty aids department (F). Compute the LD score for Fresh Foods' present also proposed layouts.
Formulate linear programming model for this problem. Mention the objective function (minimize or maximize) and all model constraints. Solve this model graphically. Identify the following: each constraint line, feasible solution area, x1, x2 and Z..
Each time they order it cost the company 150 dollars. Using the price break table below please decide illustrate what the optimal number to order would be for this company.
Describe how effective was the OD consultants' data gathering. The content of the data? The process of describe how the data were collected.
(a) Compute MAPE for management's technique, (b) Do management's results outperform (ex have smaller MAPE than) a naive forecast?, (c) Which forecast do you recommend, based on lower forecast error?
Suppose gas station manager needs expected per-gallon gasoline price at least $3.15. Illustrate what should be mean service time at pump.
The data for the last week follows: Day # of Non-conformities 1 2 3 4 5 5 10 23 20 15 Construct a 3 standard deviation c chart of non-conformities. Elucidate what the control chart tells you about the IRS telephone operators
Suppose which instead of a faucet, a 5 gallon container is used for filling the bathtub (Suppose it's full also next to the tub to begin with), it takes 2 hours to refill the container also return it to the bathtub. Elucidate what happens to the ..
Explain how many of X1 X2 and X3 should be made and illustrate what is the resulting profit of this product Mix. Which of the machines is not operating at capacity with this solution.
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.
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