Pls solve... Question No: 02a. A product consists of three subassemblies which are connected in series. The first subassembly consists ofcomponents A and B, which are connected in parallel. In the second subassembly, components C and D are connectedin parallel. The third subassembly has only component E. The reliabilities of the components are given in thefollowing table.ComponentReliability0.850.880.920.800.75Find the reliability of the product.b. A company selects a sample of 200 items each day for a 10-day period.

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Answered: a. A produc components A and B, which…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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QUESTION A The Miramar Company is going to introduce one of three new products: a widget, a hummer, or a nimnot. The market conditions (favorable, stable, or unfavorable) will determine the profit or loss the company realizes, as shown in the following payoff table: State of Nature     Favourable              Stable              Unfavourable Product                                   0.2                       0.7                        0.1 Widget                                          $ 120,000              $ 70,000             $ –30,000 Hummer                                 60,000                 40,000                  20,000 Nimnot                                   35,000                 30,000                  30,000 Compute the expected value for each decision and select the best one. Develop the opportunity loss table and compute the expected opportunity loss for each product.
QUESTION A The Miramar Company is going to introduce one of three new products: a widget, a hummer, or a nimnot. The market conditions (favorable, stable, or unfavorable) will determine the profit or loss the company realizes, as shown in the following payoff table: State of Nature     Favourable              Stable              Unfavourable Product                                   0.2                       0.7                        0.1 Widget                                          $ 120,000              $ 70,000             $ –30,000 Hummer                                 60,000                 40,000                  20,000 Nimnot                                   35,000                 30,000                  30,000 Compute the expected value for each decision and select the best one.
QUESTION A The Miramar Company is going to introduce one of three new products: a widget, a hummer, or a nimnot. The market conditions (favorable, stable, or unfavorable) will determine the profit or loss the company realizes, as shown in the following payoff table: State of Nature     Favourable              Stable              Unfavourable Product                                   0.2                       0.7                        0.1 Widget                                          $ 120,000              $ 70,000             $ –30,000 Hummer                                 60,000                 40,000                  20,000 Nimnot                                   35,000                 30,000                  30,000 Compute the expected value for each decision and select the best one. B.Develop the opportunity loss table and compute the expected opportunity loss for each product.
Question 1 A company manufactures two types of boxes, corrugated and ordinary cartons. The boxes undergo two major processes: cutting and pinning operations. The profits per unit are $6 and $4 respectively. Each corrugated box requires 2 minutes for cutting and each carton requires 3 minutes for cutting, whereas each corrugated box requires 2 minutes for pinning and each carton requires 1 minute for pinning. The available cutting time is 120 minutes and total pinning time is 60 minutes. Determine the optimum quantities of the two boxes to maximize the profits. a. Formulate a linear programming model that can be used to determine the quantities of the two boxes that should be produced in order to maximize total profit contribution.b. Graph the feasible region.c. Determine the coordinates of each extreme point.
Question #4 - Jerry Smith is thinking about opening a bicycle shop in his hometown. Jerry loves to take his own bike on 50-mile trips with his friends, but he believes that any small business should be started only if there is a good chance of making a profit. Jerry can open a small shop, a large shop, or no shop at all. The profits will depend on the size of the shop and whether the market is favorable or unfavorable for his products. Because there will be a 5-year lease on the building that Jerry is thinking about using, he wants to make sure that he makes the correct decision. Jerry is also thinking about hiring his old marketing professor to conduct a marketing research study. If the study is conducted, the study could be favorable (i.e., predicting a favorable market) or unfavorable (i.e., predicting an unfavorable market). Develop a decision tree for Jerry.
Question Suppose there are only two goods: Beer and Milk. Tom’s preference over bundles of beer and milk is as follows: For any two bundles A = (bA, mA) and B = (bB, mB) (where b and m denotes the amount of beer and milk, respectively), A ≿ B (i.e., “A is at least as good as B”) if and only if: Either bA > bB; Or bA = bB and mA ≥ mB. In other words, Tom cares, first and foremost, about the amount of beer, but if the two bundles contain the same amount of beer, then he prefers having more milk to less. • Is Tom’s preference complete? If yes, show why; if no, give an example of two bundles which Tom cannot compare. • Is Tom’s preference monotone? Strongly monotone? • Does Tom’s preference comply with the property of diminishing marginal rate of substitution?
Question 1 A A company manufactures two types of boxes, corrugated and ordinary cartons. The boxes undergo two major processes: cutting and pinning operations. The profits per unit are $6 and $4 respectively. Each corrugated box requires 2 minutes for cutting and each carton requires 3 minutesfor cutting, whereas each corrugated box requires 2 minutes for pinning and each carton requires 1 minute for pinning. The available cutting time is 120 minutes and total pinning time is 60 minutes. Determine the optimum quantities of the two boxes to maximize the profits. a. Formulate a linear programming model that can be used to determine the quantities of the two boxes that should be produced in order to maximize total profit contribution b. Graph the feasible region. c. Determine the coordinates of each extreme point. d. What is the optimal solution. e. Solve in excel.
Question ThreeThe management of a supermarket wants to adopt a new promotional policy ofgiving free gift to every customer who spends more than a certain amount pervisit at this supermarket. The expectation of the management is that after thispromotional policy is advertised, the expenditure for all customers at thissupermarket will be normally distributed with mean 400 £ and a variance of900£2.1) If the management wants to give free gifts to at most 10% of the customers,what should the amount be above which a customer would receive a free gift?2) In a sample of 100 customers, what are the number of customers whoseexpenditure is between 420 £ and 485 £?3) What is a probability of selecting a customer whose expenditure is differ thanthe population mean expenditure by at most 50 £?4) What is the probability that the expenditure of the first customer exceeds theexpenditure of the second customer by at least 20 £?5) In a sample of 250, find the count that corresponds to the interquartile…
Question 1 You may produce seven products by consuming three materials. The unit sales price and material consumption of each product are listed in Table 1. For each day, the supply of these three materials are limited. The supply limits are listed in Table 2. For each day, you need to determine the production quantity for each product. Product Price Material 1 Material 2 Material 3 1 100 0 3 10 2 120 5 10 10 3 135 5 3 9 4 90 4 6 3 5 125 8 2 8 6 110 5 2 10 7 105 3 2 7 Table 1: Product information for Problem 1 Material Supply limit 1 100 2 150 3 200 Table 2: Material information for Problem 1 Formulate a linear integer program that generates a feasible production plan to maximize the total profit (which is also the total revenue, as there is no cost in this problem). Then write a computer program…
Question 5: For a coffee shop, the cost associated with cups, coffee beans and lids are examples of ____costs. These ______ considered when building a MCS. Group of answer choices a Fixed costs; should be b Fixed costs; should not be c Variable costs; should not be d Variable costs; should be e None of these, these are programmed costs
Question 37 What is the greatest challenge that is unique to conducting and interpreting risk prioritization exercises? a. Risk analysis, evaluation, and prioritization are processes that require regular updates b. The assumption that different risk criteria (such as likelihood and impact) carry equal weight in the analysis c. Attaching numbers to measure of risk requires a degree of subjectivity and judgment d. Likelihood and impact are not the only risk criteria that the organization needs to consider
Question 38 Pasensya Ka Na Ha God Bless Co., an investment company, is constructing a complex of four residential rental buildings that will have more than 100 units. The complex is in a geographic area that has a long rainy season. Which of the following steps would likely be most essential to monitoring and mitigating the risk of rain damage? a. Assuring compliance with local codes during construction b. Establish a reserve for capital expenditures, if needed c. Actively encouraging renters to report possible problems d. Monthly inspection by internal maintenance staff and annual assessment by external engineering firms Question 39 Which of the following is the best approach in assessing an organization's risk management approach? a. Consider multiple components of an organization's industry, culture, and objectives to determine the most effective risk management approach b. Find out what is the most common framework being used by competitors in the industry c.…

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