A is an exceptional surgeon working in Hospital K. He decides to decline an offer from a newly set up Hospital - B which is still in the process of adding in the necessary infrastructure. From a RBV perspective, his decision is most likely to be driven by which of the following reasons: Need for professional recognition Need for interconnected resources Need for increased pay None of the above

A is an exceptional surgeon working in Hospital K. He decides to decline an offer from a newly set up Hospital - B which is still in the process of adding in the necessary infrastructure. From a RBV perspective, his decision is most likely to be driven by which of the following reasons: Need for professional recognition Need for interconnected resources Need for increased pay None of the above

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter12: Queueing Models

Section: Chapter Questions

Problem 59P

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Suppose the newsvendor model describes a firm’s operations decision. Is it possible to havepositive stockout probability and positive expected leftover inventory? Choose the best answer. a. No. If there is leftover inventory, then a stockout doesn’t occur.b. No. If the stockout probability is positive, then expected inventory must be negative.c. No. Actual demand can differ from sales.d. Yes. A firm does not stock out and have leftover inventory at the same time, but the stockout probability can be positive even though there is positive expected leftover inventory.e. Yes, as long as the underage cost is greater than the overage cost.
1. Timothy received $100 for his birthday. He wants to buy either a new skateboard or a new mp3 player to listen to music while working out but he can buy only one. a. Which core principle is represented in this scenario above (if any). b. give an xplanation.
DONT SOLVE WRONG... SOLVE IF YOU ARE 5000% SURE Jaclyn is considering opening a location on campus to sell bubble tea. Her rent would be $500/month and she expects to sell each drink for $5. Variable costs are $0.85 and labor is $1.77. She also has the option to share space with a friend, which would cost her only $300/month in rent. Her friend wants $0.03 per bubble tea revenue sharing. What is Jaclyn’s new break-even point? If she sells 264 bubble teas, which option does she prefer? a. She prefers sharing space with her friend at Q=264. b. She is indifferent between the two choices at Q=264. c. She prefers working by herself at Q=264.
Alma has decided to purchase a cell phone with Internetaccess and must choose a rate plan. The “occasional-user”plan is $0.50/minute, regardless of how many minutes ofair time are used. The “frequent-user” plan charges a flatrate of $55/month for 70 minutes of air time plus$0.33/minute for any time over 70 minutes. The “executive” plan charges a flat fee of $75 per month for 100minutes of air time plus $0.25/minute over 100 minutes. Inthe interest of simplicity, Alma has decided to go with theoccasional-user plan to start with and then upgrade as shesees fit at a later date.a. How much air time per month would Alma need touse before she upgrades from the occasional-user planto the frequent-user plan?b. At what usage rate should she switch from thefrequent-user plan to the executive plan?
Alma has decided to purchase a cell phone with Internetaccess and must choose a rate plan. The “occasional-user”plan is $0.50/minute, regardless of how many minutes ofair time are used. The “frequent-user” plan charges a flatrate of $55/month for 70 minutes of air time plus $0.33/minute for any time over 70 minutes. The “execu-tive” plan charges a flat fee of $75 per month for 100 minutes of air time plus $0.25/minute over 100 minutes. Inthe interest of simplicity, Alma has decided to go with theoccasional-user plan to start with and then upgrade as shesees fit at a later date.a. How much air time per month would Alma need touse before she upgrades from the occasional-user planto the frequent-user plan?b. At what usage rate should she switch from thefrequent-user plan to the executive plan?
A is an exceptional surgeon working in Hospital K. He decides to decline an offer from a newly set up Hospital - B which is still in the process of adding in the necessary infrastructure. From a RBV perspective, his decision is most likely to be driven by which of the following reasons: a) Need for professional recognition b) Need for interconnected resources c) Need for increased pay d) None of the above
Jody of Jody’s Custom Tailoring is considering expanding her growing business. The question is whether to expand with a bigger facility than she needs or with a small facility, knowing that she will have to reconsider expanding in three years. Jody has estimated the following chances for demand: The likelihood of demand being high is 0.50. The likelihood of demand being low is 0.50. She has also estimated profits for each alternative: Large expansion has an estimated profitability of either $200,000 or $100,000, depending on whether demand turns out to be high or low. Small expansion has a profitability of $80,000, assuming that demand is low. Small expansion with an occurrence of high demand would require considering whether to expand further. If the business expands at that point, the profitability is expected to be $120,000. If it does not expand further, the profitability is expected to be $70,000. Draw a decision tree and solve it. What should Jody’s Custom Tailoring do?
A mobile phone producer has fixed costs of 1,5 m $ and variable costs of 800 $. It sells its phones for 1.100 $. A bakery produces bread rolls with variable costs of 1 $ and sells them for 1.5$. Its fixed costs are 30.000 $. Calculate the break-even volumes for both firms.
can you also answer this with the information from the same question?b. Suppose the production manager is asked to reduce the safety stock of this item by 60 percent. If she does so, what will the new service probability be? Note: Use Excel's NORM.S.DIST( function to find the correct probability for your computed z value. Round "z" value to 2 decimal places and final answer to 1 decimal place.
The Woody Company manufactures slippers and sells them at $10 a pair. Variable manufacturing costs are $4.50 a pair, and allocated fixed manufacturing costs are $1.50 a pair. It has enough idle capacity available to accept a one-time-only special order of 20,000 pairs of slippers at $6 a pair. Woody will not incur any marketing costs as a result of the special order. What would the effect on operating income be if the special order could be accepted without affecting normal sales? (a) $0, (b) $30,000 increase, (c) $90,000 increase, (d) $120,000 increase
The DellaVecchia Garden Center purchases and sells Christmas trees during the holiday season. It purchases the trees for $10 each and sells them for $20 each. Any trees not sold by Christmas day are sold for $2 each to a company that makes wood chips. The garden center estimates that four levels of demand are possible: 100, 200, 500, and 1,000 trees.a. Compute the payoffs for purchasing 100, 200, 500, or1,000 trees for each of the four levels of demand.b. Construct a payoff table, indicating the events and alternative courses of action.c. Construct a decision tree.d. Construct an opportunity loss table. Use the Optimistic (maximax) to choose the best choice.e.Use the Pessimistic (maximin) to choose the best choice.f.Use the Criterion of realism (Hurwicz) to choose the best choice. α = 0.6g.Use the Equally likely (Laplace) to choose the best choice.h.Use the Minimax regret to choose the best choice.i.Use the expected monetary value to make a choice. ( Probability for the four level…
The DellaVecchia Garden Center purchases and sells Christmas trees during the holiday season. It purchases the trees for $10 each and sells them for $20 each. Any trees not sold by Christmas day are sold for $2 each to a company that makes wood chips. The garden center estimates that four levels of demand are possible: 100, 200, 500, and 1,000 trees.a. Compute the payoffs for purchasing 100, 200, 500, or1,000 trees for each of the four levels of demand.b. Construct a payoff table, indicating the events and alternative courses of action.c. Construct a decision tree.d. Construct an opportunity loss table. Use the Optimistic (maximax) to choose the best choice.e.Use the Pessimistic (maximin) to choose the best choice.f.Use the Criterion of realism (Hurwicz) to choose the best choice. α = 0.6g.Use the Equally likely (Laplace) to choose the best choice. h.Use the Minimax regret to choose the best choice.i.Use the expected monetary value to make a choice. ( Probability for the four level…