4) A store owner wants to find out if the customer satisfactory rating (1 being the lowest and 5 being thehighest) affects the selling power of the store. Listed below is the customer satisfactory rating of theyear and its corresponding sale (in thousands):SatisfactoryRatingSales4.31543.331334.211803.891904.0200

Customer Satisfaction can be one thing that can make all the difference in the business. It is the…

Answered: 4) A store owner wants to find out if…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter10: Introduction To Simulation Modeling

Section: Chapter Questions

Problem 41P: At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 =...

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Perkins Company has been experiencing lost sales and high returns recently, so they decided to undertake a comprehensive quality program. Here are factors being considered: Finished products need to be inspected before shippingEstimated cost: $45,000 Production equipment needs upgradingEstimated cost: $400,000 Perkins knows that if it undertakes this program, it will be able to reduce warranty repair costs by $25,000. They also know they will be able to avoid lost profits by retaining customers, but they cannot quantify that benefit with any degree of precision. Should Perkins go ahead with the quality program? A) Yes, they should, regardless of any other considerations. B) No, they should not. C) They should, only if the benefit of avoiding lost profits is estimated to be over $420,000. D) They should, only if the benefit of avoiding lost profits is estimated to be over $445,000.
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