Range of alternatives available

Assignment Help Other Subject
Reference no: EM13981242

1. Analyze the difficult decision situation that you identified in Problem 1.9. and structured in Problem 3.21. Be sure to examine alternatives for dominance. Does your analysis sug gest any new alternatives?

2. Stacy Ennis eats lunch at a local restaurant two or three times a week. In selecting a restau rant on a typical workday, Stacy uses three criteria. First is to minimize the amount of travel time, which means that close-by restaurants are preferred on this attribute. The next objec tive is to minimize cost, and Stacy can make a judgment of the average lunch cost at most of the restaurants that would be considered. Finally, variety comes into play. On any given day, Stacy would like to go someplace different from where she has been in the past week.

Today is Monday, her first day back from a two-week vacation, and Stacy is considering the following six restaurants:

 

Sams Pizza

Distance (WalkingTime)

10

Average Price($)

3.50

Sys Sandwiches

9

2.85

Bubbas Italian Barbecue

7

6.50

Blue China Café

2

5,00

The Eating Place

2

7.50

The Excel-Soaring Restaurant

5

9.00

If Stacy considers distance, price, and variety to be equally important (given the range of alternatives available), where should she go today for lunch? (Hints: Don't forget to convert both distance and price to similar scales, such as a scale from 0  to 100. Also, recall that Stacy has just returned from vacation; what does this imply for how the restaurants compare on the variety objective?)

b  Given your answer to part a, where should Stacy go on Thursday?

Reference no: EM13981242

Questions Cloud

Describe three features or tenets of the chosen religion : Choose from one of the following religions: Ancient Egyptian belief, Hinduism, Greek or Roman Polytheism, Native American Religion, Buddhism, Taoism, Judaism, Christianity, or Islam. You must choose a religion that is not your own.
How long were the bat and ball in contact : A pitcher throws a 0.140-kg baseball with a speed of The batter strikes it with an average force of which results in the ball traveling with an initial speed of toward the pitcher. For how long were the bat and ball in contact?
Explore the importance of issues : Describe how he might use sensitivity analysis to explore the importance of these issues.
Describe the major opportunities and challenges : Describe the major opportunities and challenges retailers and wholesalers can expect to encounter in the coming year
Range of alternatives available : 1. Analyze the difficult decision situation that you identified in Problem 1.9. and structured in Problem 3.21. Be sure to examine alternatives for dominance. Does your analysis sug gest any new alternatives?
Prepare a schedule starting with pretax financial income : Product warranties were estimated to be $50,000 in 2010. Actual repair and labor costs related to the warranties in 2010 were $10,000. The remainder is estimated to be paid evenly in 2011 and 2012.
Expected cost of production : If Johnson Marketing wants to minimize its expected cost of production in this case, should it make or buy? Construct cumulative risk profiles to support your recommenda- tion. (Hint: Use care when interpreting the graph!)
Construct cumulative risk profiles : Construct cumulative risk profiles for the three alternatives, assuming Apricot has a 25% chance of winning the lawsuit. Can you draw any conclusions?
Description of the market channels : Your firm has agreed to hire a professional website development company to market your product. The website developer needs the following information: A brief description of the product. A description of the market channels

Reviews

Write a Review

Other Subject Questions & Answers

  Theory of psychosocial development

Do you believe Erikson's 60-year-old theory of psychosocial development is still relevant in the twenty-first century world? Are children still allowed to explore and discover the world on their own? What do behavioral statistics say about parents..

  Making a dialogue describing opposing sides of an issue be

creating a dialogue discusising opposing sides of an issue. be sure use the good evidence that you have read and

  Relationship to a seniority pay system-human capital theory

"Describe human capital theory and its relationship to a seniority pay system. What weakness can you see with this system?

  What are the dimensions of cultural diversity

What are the dimensions of cultural diversity? Identify and briefly explain the dimensions by referencing both textbooks. With what ethnic, cultural, or other groups do you identify? Describe what members of your social circle have in common.

  Most of the social scientists say that poorer third world

prepare a 2 page paper using apa format discussing problem.be as specific as possible.many social scientists say that

  Do international institutions such as wto and oecd help or

government business relations 1500 words at least 10 references essaydo international institutions such as wto and oecd

  Similarities between theory and hypothesis

Is any one type of theory more valid than the others? Why or why not? What are the differences and similarities (if any) between theory and hypothesis

  Receiver operating characteristic curves

Draw two receiver operating characteristic (ROC) curves, one representing a high sensitivity observer and the other representing a low sensitivity observer. Label them to describe how the probability of a false alarm differs between the two individua..

  Government accounting perspective

Please give the answer from a government accounting perspective. The question I have is this: What is the journal entry for the following situation?   Please give date of journal entry and give multiple journal entries if applicable for this transact..

  Violated principles of ethical behavior

For each of them explain: whether or not you think the research is ethical; how the research may have violated principles of ethical behavior; what, if any, alternative research methods might have been used. If you do not believe there are any altern..

  Beneficiaries acquire rights under the original contract

Which of the following types of third party beneficiaries acquire rights under the original contract?

  Methods of decontamination

Explain the methods of decontamination used for victims of radiation exposure.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd