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XYZ coating company has reviewed four new processes for improving their coating line. The four processes, labeled A, B, C, and D use different technology and have different capacities. All the processes have the same level of production and the lifetime. The four states of nature represent four levels of consumer acceptance of the firm's products. Values in the table are net present value of future profits in millions of dollars. Forecasts indicate that there is a 0.4 probability of acceptance level 1, 0.3 chance of acceptance level 2, 0.6 chance of acceptance level 3, and 0.5 change of acceptance level 4. Consumer Acceptance Level (states of nature) 1 2 3 4 Alternative A 1 2 3 4 35 55 85 165 Alternative B 1 2 3 4 -105 -5 155 225 Alternative c 1 2 3 4 75 85 75 65 Alternative D 1 2 3 4 55 55 75 65 Using the criterion of expected monetary value, which production alternative should be chosen?
What is utility of materials requirement planning second to manufacturing operations? It is evolved by MRP-I. A system which incorporates not only material needs, but all manuf
Ski Boards, INC., wants to enter the market quickly with a new finish on its ski boards. It has three choices: (a) refurbish the old equipment at a cost of $800, (b) make major mod
The Jackson Company has invested in a machine that cost $70000, that has a useful life of seven years, and that has no salvage value at the end of its useful life. The machine is b
Prospective employers can conduct a credit check along with a background check to determine employment eligibility. Do you feel this is good business practice or an invasion of pri
A paper mill produces two grades of paper viz, x and y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper in
Why is forecasting important for an organization? Which company do you believe to be successful at forecasting and why?
Communication is an important consideration in organizations, and a number of different constructs fit within the communication viewpoint. What types of leader communication attitu
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1. What does the operations function contribute to the business? Answer: The answer must be that the operations function, whether it be to manufacture products or provide servi
Challenges in leading a multi-generational and/or multi-cultural workforces: Need a complete summary for the listed assignment, references. Please at least one page of information
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