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Myraa airlines decided to offer direct service from Akron to Clearwater beach, Florida. Management must decide between full-price service using a company’s new fleet of jet aircraft and a discount-service using smaller capacity commuter planes. Management developed estimates of the contribution to profit for each type of service based upon two possible levels of demand for service on Clearwater beach: high, moderate, and low. The following table shows the estimated quarterly profits (in thousands of dollars): Service Demand for service High Medium Low Full price 900 760 –430 Discount 710 650 350 The probabilities for the demand is P(High) = 0.3, P(Medium) = 0.5, and P(Low) = 0.2, respectively. a. What is the optimal decision strategy if perfect information were available? b. What is the expected value for the decision strategy developed in part a? c. Using the expected value approach, what is the recommended decision without perfect information? What is its expected value? d. What is the expected value of perfect information?
Using personal experience in regard to the quality improvement programs that you discussed in the previous week, which of the following specific quality program tactics were involved
Recall an experience in a hospitality setting where you encountered the very best service and a true reflection of quality customer service. Describe how you would pass this experience on to your friends and family to ensure this establishment gains ..
Jimmy runs a business in his basement that spin aligns and marks golf balls with logos for tournaments. The automated machine goes through three serial steps; the first step takes 15 seconds.
Describe the impact of a career development program on employee attrition, equal employment opportunity, quality of work life and competitiveness of the organization. Rate your organization's career development program and describe its weaknesses/str..
A company that makes shopping carts for supermarkets and other stores recently purchased some new equipment that reduces the labor content of the jobs needed to produce the shopping carts.
Discuss about noted organization theorist. Pressure for change originates in the environment; pressure for stability originates within the organization.
McDonald's vision is to be the world's best quick service restaurant experience. Being the best means providing outstanding quality, service, cleanliness, and value, so that we make every customer in every restaurant smile.
What are the basic difference between Strategic, Operational and Tactic Planning. How might the three levels compliment one another in an organization?
Distinguish between ethical and legal principles and practices. Define the concept of ethical behavior as it relates to the purchasing and supply management function. Discuss the concepts associated with managing relationships with potential or exist..
Annual demand for the notebook binders at Duncan's Stationery Shop is 10,000 units. Dana Duncan operates her business 300 days per year and finds that deliveries from her supplier generally take 5 working days.
Draw an Activity-on-Node Diagram, identify project duration and project critical path for the following:
it is estimated that 2% of the athletes competing in a large tournament are users of an illegal drug to enhance performance
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