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Your boss has asked you to work up a simulation model to examine the uncertainty regarding the success or failure of five different investment projects. He provides probabilities for the success of each project individually: p1=0.50, p2=0.35, p3=0.65, p4=0.58, p5=0.45. Because the projects are run by different people in different segments of the investment market, you both agree that it is reasonable to believe that, given these probabilities, the outcome of the projects are independent. He points out, however, that he really is not fully confident in these probabilities and that he could be off by as much as 0.05 in either direction on any given probability.
Now suppose he says that if he is optimistic about the success of one project, he is likely to be optimistic about the others as well. For you simulation, this means that if on probability increases, the others are likely to increase. How might you incorporate this information into your simulation?
Assuming no other paths become critical, what action would you take to reduce the critical path 1 additional day? What is the total cost of the 2 day reduction?
Explain why standards are so important in information technology? What standards have been important for the growth of Internet
This solution explains some of the risks that are inherent with doing business in China. For many global companies, China represents a highly attractive market in terms of size and growth rate.
Why do the soft technologies open more opportunities for women? To what extent have these technologies impacted the perceptions of men's and women's roles in the economy, within marriage, and in society as a whole?
The details of the case are set forth. You are to decide if direct-to-consumer advertising of pharmaceutical drugs is ethical.
For this question suppose which all 699 of units of Cedar are sold in the Nano segment. If the competitive environment remains unchanged. Elucidate what will be the Cedar product's demand next year (in 000's).
The tennis club has a number of inventories it must manage and must minimize all its expenses to stay in business. For each inventor, describe a goo management policy or system
Propose this portfolio selection problem by using linear programming. Solve using LP software such as Excel QM or QM for windows. Write out answer step by step if you can't use QM.
Discuss why you think a CIO survey is important for the HMIS industry. Based on the information provided in the Mini-Case and survey, explain what types of hardware investments are most important to the future of HMIS.
What role have the wine buyers (end users and others in the supply chain) played in contributing to the fall in demand for cork as a closure?
Given the EOQ, explain how many orders would be made each year. Illustrate what would be the annual order cost. Illustrate what is the time between orders.
Elucidate how does Henry Larsen get away with such egregious behaviour in the Orion Shield case. Processes to consider may be related to policies also procedures, human resource management also customer service.
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