Leah Johnson, director of Urgent Care of Brookline, wants to increase capacity to provide low-cost flu shots but must decide whether to do so by hiring another full-time nurse or by using part-time nurses. The table below shows the expected costs of the two options for three possible demand levels: States of Nature (demand)AlternativesLowMediumHighHire full−time$320$480$700Hire part−time$0$350$1,200Probabilities0.150.450.40Part 2a) The alternative with the least expected cost is▼ a. Hire part-timeb. Hire full-timeThe expected price of this alternative is $_______ (enter your answer as a whole number).Part 4b) The appropriate decision tree for Leah Johnson is presented in Figure____?

Name: Leah Johnson, director of Urgent Care of Brookline, wants to increas
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Description: Leah Johnson, director of Urgent Care of Brookline, wants to increase capacity to provide low-cost flu shots but must decide whether to do so by hiring another full-time nurse or by using part-time nurses. The table below shows the expected cost

Expected price = Sum product of Cost and probabilities (a) For hiring part time : 0*0.15 + 350*0.45…

Business

Operations Management

a) The alternative with the least expected cost is ▼ a. Hire part-time b. Hire full-time The expected price of this alternative is $_______ (enter your answer as a whole number). Part 4 b) The appropriate decision tree for Leah Johnson is presented in Figure____?

a) The alternative with the least expected cost is ▼ a. Hire part-time b. Hire full-time The expected price of this alternative is $___ (enter your answer as a whole number). Part 4 b) The appropriate decision tree for Leah Johnson is presented in Figure?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter11: Simulation Models

Section: Chapter Questions

Problem 68P

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Part 2

a) The alternative with the least expected cost is

▼

a. Hire part-time

b. Hire full-time

The expected price of this alternative is $_______ (enter your answer as a whole number).

Part 4

b) The appropriate decision tree for Leah Johnson is presented in Figure____?

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