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A family-run inn is considering the use of overbooking, because the frequency of no-shows has left many rooms vacant during the past summer season. An empty room represents an opportunity cost of $69, which is the average room rate. Accommodating an overbooked guest is expensive. The inn must however, because the nearby resort rooms average $119 and the inn must pay the difference. The number of no-shows is an approximated normal distribution with a mean of 1 and a standard deviation of 1. How many rooms the inn should overbook per night?
Forecast the number of accidents that will occur in May, using least-squares regression to derive a trend equation.
One of the objectives of facility location analysis is to select a site with the lowest total price. Which of the subsequent prices should not be included in the analysis.
Many students of the Second City Training Center arebusinesspeople looking to gain skills for the corporatecontext. What skills from the world of improvisationalcomedy would be valuable to a business manager?
f you were to be sent to another country to work for a period of time, where the cultural ethical standards were very different from yours. Explain how willing would you be to "go along" with the ethical standards of which culture.
Compute also interpret decision maker A's risk premium for a payoff of $50 000. Explain why don't decision makers A also B select the same decision alternative.
Off we go Airlines has a daily flight from Chicago to Las Vegas. how many tickets should be overbooked to maximize expected profit.
Demand for dishwasher water pumps is 8 per day. The criterion deviation of Demand is 3 per day also the order lead time is four days. The service level is 95percent. Illustrate what should the reorder point be.
Propose a linear programming model which can be used to find out the optimal production schedule that will best achieve the goals of Richland Manufacturing Company.
Minimal-spanning tree technique and Shortest-route technique
in what type of interview would you be likely to talk with more than one person at a time? in a behavioral interview the applicant is prompted to give examples of how he or she has been?
Formulate the linear programming problem to maximize the profit during the coming month. Write all of the constraints that are indicated by the above description of the problem.
Create a list of three best practices that any organization could follow to best leverage foreign exchange movements. Explain your rational.
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