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Wolfgang Puck runs a restaurant next to the movie theatres in Evanston, a suburb of Chicago. He has approximated its daily demand forecast by a normal distribution with mean 100.12 and standard deviation 8.50. Assume that when demand exceeds capacity, we must turn away customers resulting in lost sales. To account for loss of goodwill, we will simply assume that turning away a customer costs Wolfgang Puck a penalty of $6. Assume the restaurant operates 250 days per year and that capacity lives on for ever. What should the optimal restaurant capacity be if a marginal unit of restaurant capacity costs $12,500 and average profit margin per customer is $30?
Uses cost-plus pricing whereby the selling price of each of its products is 150 percent of the life-cycle costs. Determine the selling price of the product.
Discuss the two key assumptions that underlie analytic forecasting. Why are these assumptions so important for the accuracy of our forecasts? Provide some specific medical examples. Your response should be at least 200 words in length.
Explain any three measures of product quality. Can these be used to measure service quality for an airline? If not, how might you measure service quality? In either case explain how the measure could be used.
Describe the contribution that FW taylor made to management.
Presentation will consist of a project relating to supply chain and / or logistics.
Based on their websites, compare and contrast the apparent target markets and marketing mixes of Amazon and Barnes & Noble.
The Khan article opens with the sentence "Managing the scope of a project is the most important function of a project manager." After reading the article, do you agree or disagree with this statement? If you agree, support your position. If you think..
You are the training manager and have been asked to provide training to all employees as a result of the commission findings. What would you do?
A current customer service trend is offering same-day transportation. Please describe how transportation services within a supply chain would need to be reconfigured to support this performance and whether you believe it would be economically viable.
Among the best ways to address unique mobile experience expectations is through:
What is a quasi contract? How does is differ from a traditional contract? As part of your answer, please include one example of a quasi contract.
Which of the following is not a common feature of leadership research
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