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Nick has plans to open some pizza restaurants, but he is not sure how many to open. He has prepared a payoff table to help analyze the situation. States of Nature Alternatives Good Market Fair Market Poor Market Open 1 380,000 70,000 -400,000 Open 2 200,000 80,000 -200,000 Do nothing 0 0 0 Nick believes there is a 40 percent chance that the market will be good, a 30 percent chance that it will be fair, and a 30 percent chance that it will be poor. A market research firm will analyze market conditions and will provide a perfect forecast (they provide a money back guarantee). What is the most that should be paid for this forecast?
Customers arrive at a fast food restaurant with one server at a mean rate of 30 per hour. The server has just resigned, and the two candidates for the replacement are X (fast but
How does today's business world compare with the one of 40 ago? What is different about today and what is not so different? Electronincs assembly Inc. operates two 8 hour shifts
Explain Performance Appraisal. It is a systematic and impartial assessment of an employee's performance on the assigned job, along with a view to discovering how well or worse
What is delegation? There is a limit to what a particular can perform single-handed. After a point, the other persons working in the organisation have to be connected for perfo
Discuss the rival principles of distribution. Why is it necessary to have different views?
Consider this: Lee Peterson has invented a new product that detects water leaks due to broken pipes and sends out an alarm similar to a smoke alarm. However, Lee has very little pe
In which of the following situations would a court likely hold Melissa liable for copyright infringement? Please debate and support your answer with appropriate cites to support. A
Layout Planning - Facility Layout Layout planning occurs at three levels of detail: 1. Layout of departments on the site For a public house, as an exampl
Sub optimisation - Operations Function Another important issue raised by the systems approach is that of sub-optimisation. This is of considerable significance for managers, a
Explain Porter's Five Forces Model and how Bill can use it to analyze his current business and his expansion. Be sure to address each of the 5 forces and explain to Bill what they
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