The RLCS Relevance and Specifically the 2022 RLCS

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help me answer this question pls

Exhibit 20-2Below is a payoff table involving three states of nature and two decision alternatives. Decision States of Nature Alternative s1 s2   s3 A 80 45 –20 B 40 50   15 P(s1) = .1,  P(s2) = .6, and P(s3) = .3.Refer to Exhibit 20-2. The expected value of the best alternative equals _____.   a. 12     b. 38.5     c. 29     d. 105

Pls help ASAP on both

Maximax, Maximin, Minimax RegretLearning material: Watch this videoLab Scenario:Imagine a local entrepreneur is considering starting a business and has three options: open a coffeeshop, a bookshop, or a fusion coffee-bookshop. The entrepreneur is uncertain about the market'sreaction to these businesses. The possible market conditions are: favorable, neutral, and unfavorable.Data (Payoff Table in USD):Business Option Favorable Market Neutral Market Unfavorable MarketCoffee Shop 150,000 70,000 -30,000Bookshop 100,000 60,000 -20,000Fusion Shop 130,000 80,000 -10,000Positive values represent profits, and negative values represent losses.Assignment Steps:1. Maximax (Optimist's Criterion) Approach:For each business option, identify the maximum possible payoff.First Question What is the business option with the highest of these maximum payoffs? (5points)2. Maximin (Pessimist's Criterion) Approach:For each business option, identify the minimum possible payoff.Second Question What is the…

Wired & Plugged specializes in manufacturing modern electronic components. It also builds equipment that produces the components.  The marketing and production directors advised the president about a proposed manufacturing facility in the form of a payoff table as shown. What decision should be made using the Maximin criterion?

Garfield Industries is expanding its operations throughout the Southeast United States. Garfield anticipates that the expansion will increase sales by $1,000,000 and increase operating costs (excluding depreciation and amortization) by $700,000. Depreciation and amortization expenses will rise by $50,000, interest expense will increase by $150,000, and the company’s tax rate will remain at 40 percent. If the company’s forecast is correct, how much will net income increase or decrease, as a result of the expansion?

A battery manufacturing plant has been ordered to cease discharging acidic waste liquids containing mercury into the city sewer system. As a result, the firm must now adjust the pH and remove the mercury from its waste liquids. Quotations from three firms are included in the following table of costs. Bidder Installed Cost Annual Operating Cost Annual Income from Mercury Recovery Salvage Value Foxhill $ 70,000 $5000 $6500 $10,000 Instrument         Quicksilver 50,000 5000 2500 0 Almaden 90,000 5000 7800 10,000 If the installation will last 15 years and money is worth 12%, which equipment should be purchased?

An oil company must decide whether or not to drill an oil well in a particular area that they already own. The decision maker (DM) believes that the area could be dry, reasonably good or a bonanza. See data in the table which shows the gross revenues for the oil well that is found. Decision Drill $0 Abandon $0 Probability 0.3 Dry (D) Seismic Results No structure(N) Open(0) Closed (C) Drilling costs 40M. The company can take a series of seismic soundings (at a cost of 12M) to determine the underlying geological structure. The results will be either "no structure", "open structure or "closed structure". The reliability of the testing company is as follows that is, this reflects their historical performance. Reasonably good(G) $85 $0 0.3 Note that if the test result is "no structure" the company can sell the land to a developer for 50 m. otherwise (for the other results) it can abandon the drilling idea at no benefit to itself. Dry(d) 0.7 0.2 Bonanza(B) 0.1 $200 m SO 0.4 Conditional…

XSU Spring Concert You are a member of the X University student body entertainment committee. Your committee has agreed to sponsor a spring concert. The motive behind this concert is to offer a safe alternative to Alta Vista Baby (AVB) Week‐end, a spring event in which students for X University rent houseboats to engage in heavy partying. Traditionally this occurs during the last weekend in May. Unfortunately, the partying has a long history of getting out of hand, sometimes leading to fatal accidents. After one such tragedy last spring, your committee wants to offer an alternative experience for those who are eager to celebrate the change in weather and the pending end of the school year. You have just finished a preliminary scope statement for the project (see below). You are now brainstorming potential risks associated with the project. 1. Identify potential risks associated with this project. Try to come up with at least ten different risks. 2. Perform a risk assessment to analyze…

MNGT 21 – Management Science Decision Tree 1. A manager has to decide whether to prepare a bid or not. It costs P5,000 to prepare the bid. If the bid is submitted, the probability that the contract will be awarded is 50%. If the company is awarded the contract, it may earn an income of P100,000 if it succeeds, or pay a fine of P8,000 if it fails. The probability of success is estimated to be 80%. Should the manager prepare a bid? Mr. del Mundo, the president of RFC Corporation is faced with deciding whether to purchase a patent to develop a new product or not. If the company purchases the patent, it should develop the product. The selling price of the patent if P50,000. There are two ways of developing the product: the Modern Method and the Traditional Method. It costs P20,000 to use the Modern Method, and P15,000 for the traditional Method. The proby, of success in the Modern Method is 60%, while it is 70% for the Traditional Method. If the product is successfully developed, it will…

Use Excel Spreadsheets to solve

Which of the following issues would be considered an unobtrusive issue for lowa City, according to agenda setting research? a 3-car accident on Interstate 80 kills 4 and shuts down I-80 between Coralville and lowa City for 4 hours the lowa state legislature votes to increase Ul tuition by 7% for 2019-2020 the U.S. Congress votes to allow students to be covered by their parents' insurance until they are 26 a new tsunami policy is developed by the Federal Emergency Management Administration

the first picture is the problem and the second picture is the question

Q2 The lower daily needs for workers in a manufacturing organization provided in the below table, each worker works for eight hours, the management needs to determine the lower number of workers to maintain the flow and stability of the work in each shaft. Formulate LP model for this problem and suggest (only suggestion) a method to find the optimal solution Shaft

SCENARIO XYZ is an organization in the food and service industry, operating more than 150 restaurants with almost 1,600 employees nationwide. The company is going through some difficulties during Covid-19 outbreak. It will need to downsize and to restructure the organization in order to overcome these difficulties. The top management has decided to keep 50 restaurants that are located in downtown of big cities or the ones that have higher sales compare to the other restaurants. This downsizing will affect restaurant emplovees as well as clerical staffs at the headquarters. XYZ has informed some of the employees, but not all, about this plan which will be implemented next month. The future unemployment and job uncertainty for the remaining employees (whether they will be terminated in the future) has affected employee morale. XYZ will adopt product differentiation strategy and new practices such as a delivery service in which some of the restaurant employees will be responsible for…

SCENARIO XYZ is an organization in the food and service industry, operating more than 150 restaurants with almost 1,600 employees nationwide. The company is going through some difficulties during Covid-19 outbreak. It will need to downsize and to restructure the organization in order to overcome these difficulties. The top management has decided to keep 50 restaurants that are located in downtown of big cities or the ones that have higher sales compare to the other restaurants. This downsizing will affect restaurant emplovees as well as clerical staffs at the headquarters. XYZ has informed some of the employees, but not all, about this plan which will be implemented next month. The future unemployment and job uncertainty for the remaining employees (whether they will be terminated in the future) has affected employee morale. XYZ will adopt product differentiation strategy and new practices such as a delivery service in which some of the restaurant employees will be responsible for…

SCENARIO XYZ is an organization in the food and service industry, operating more than 150 restaurants with almost 1,600 employees nationwide. The company is going through some difficulties during Covid-19 outbreak. It will need to downsize and to restructure the organization in order to overcome these difficulties. The top management has decided to keep 50 restaurants that are located in downtown of big cities or the ones that have higher sales compare to the other restaurants. This downsizing will affect restaurant emplovees as well as clerical staffs at the headquarters. XYZ has informed some of the employees, but not all, about this plan which will be implemented next month. The future unemployment and job uncertainty for the remaining employees (whether they will be terminated in the future) has affected employee morale. XYZ will adopt product differentiation strategy and new practices such as a delivery service in which some of the restaurant employees will be responsible for…

SCENARIO XYZ is an organization in the food and service industry, operating more than 150 restaurants with almost 1,600 employees nationwide. The company is going through some difficulties during Covid-19 outbreak. It will need to downsize and to restructure the organization in order to overcome these difficulties. The top management has decided to keep 50 restaurants that are located in downtown of big cities or the ones that have higher sales compare to the other restaurants. This downsizing will affect restaurant emplovees as well as clerical staffs at the headquarters. XYZ has informed some of the employees, but not all, about this plan which will be implemented next month. The future unemployment and job uncertainty for the remaining employees (whether they will be terminated in the future) has affected employee morale. XYZ will adopt product differentiation strategy and new practices such as a delivery service in which some of the restaurant employees will be responsible for…

SCENARIO XYZ is an organization in the food and service industry, operating more than 150 restaurants with almost 1,600 employees nationwide. The company is going through some difficulties during Covid-19 outbreak. It will need to downsize and to restructure the organization in order to overcome these difficulties. The top management has decided to keep 50 restaurants that are located in downtown of big cities or the ones that have higher sales compare to the other restaurants. This downsizing will affect restaurant emplovees as well as clerical staffs at the headquarters. XYZ has informed some of the employees, but not all, about this plan which will be implemented next month. The future unemployment and job uncertainty for the remaining employees (whether they will be terminated in the future) has affected employee morale. XYZ will adopt product differentiation strategy and new practices such as a delivery service in which some of the restaurant employees will be responsible for…

Problem #2 A & B please Problem #3 A please

Wired & Plugged specializes in manufacturing modern electronic components. It also builds equipment that produces the components.  The marketing and production directors advised the president about a proposed manufacturing facility in the form of a payoff table as shown.   Construct an Opportunity Loss (Regret) table. What decision should be made under Maximax Regret?

1. Procter, president of a food company, must decide whether to market a new breakfast drink which the R and D division has developed. A special meeting devoted to this topic yields the following information: ● The marketing vice-president has defined two possible outcomes for the success of this product; either the public will accept the product, or it will not. She believes that the product will be accepted with probability 0.1. The cost engineers believe that if the product is marketed and accepted, the company will net $100,000 yearly. If the product is rejected, however, the company will suffer a net loss of $20,000 yearly. If Procter decides not to market the product, her company will neither accrue more cost nor make any profit on this product. ● Procter always makes decisions based on the expected value of the outcomes. A. What is the best strategy in this case? B. Compute for EVPI.

Develop a quantitative forecast model for Jacob. Which modeling technique did you choose, and why? What are the assumptions behind your model?

Alternative Alternative 1 Alternative 2 Alternative 3 State of Nature Outcome 1 ($) 800 500 700 0.62 Probability according to the payoff table? OEMV (Alternative 1) = $900 EMV (Alternative 3) is the highest EMV EMV (Alternative 2) = EMV (Alternative 3) EMV (Alternative 1) is the highest EMV Outcome 2 ($) 1000 1200 900 0.38 Which of the following statements is correct

I need help with part B

The following is a payoff table giving profits for various situations. Alternatives Alternative 1 Alternative 2 Alternative 3 Do Nothing 130 166 36 States of Nature A 160 200 120 0 B C The probabilities for states of nature A, B, and C are 0.3, 0.5, and 0.2, respectively. If a perfect forecast of the future were available, what is the expected value with this perfect information? 100 120 100 140 0 180 50 120 0

Theme Park (5S-7A) The lease of Theme Park, Inc., is about to expire. Management must decide whether to Renew the lease for another 10 years or to Relocate near the site of a proposed new motel. The town planning board is currently debating the merits of granting approval to the motel. A consultant has estimated the net present value of Theme Park's two alternatives under each state of nature as shown below. Suppose that the management of Theme Park, Inc., has decided that there is a 0.20 probability that the motel's application will be approved. Options Renew Relocate Alternative Renew Relocate Motel Approved a-1. If management uses maximum expected monetary value as the decision criterion, calculate expected monetary value for the alternatives "Renew" and "Relocate"! $ 400,000 2,000,000 O Renew O Relocate Motel Rejected $4,000,000 100,000 Expected Value a-2. Which alternative should it choose? b. If management has been offered the option of a temporary lease while the town planning…

Make a plan on a specific sport event you want to have in your community following the steps in organising a sport event. Don't forget to consider availability of resources and facilities available in your community as well as the interests of the people living in it.  This is the format: Name of the Community: 1. Planning Sport Event: Objectives of the Sport Event: Theme for the Event: Venue/available facilities in the community to be used in the event: Initial Budget/Source of Budget: 2. Organizing Program and Schedule: Policies: 3. Staffing Designate people/staff needed in the event and their duties Designation Duties