Cheryl should build the facility. If demand proves to be low, then to stimulate demand. b) What is the value of this expected payoff? The expected payoff is $ (round your response to the nearest dollar).
Q: A factory is trying to decide how much pollution they should allow to be released by their plant.…
A: The filter will cost 3 million dollars however the proift will increase by 5 millions. Hence net…
Q: When undertaking performance testing, what are the most important criteria to keep in mind?
A: Performance testing:- Performance testing can be divided into two parts: load testing and stress…
Q: What are the three project management limitations and how do they relate to the idea of project…
A: Project Limitations are those which display an effect on the team production, delivery procedure,…
Q: Once a new consultant has agreed to join the project team, a contract for the procurement of his…
A: A consultancy agreement is required when the company appoints an external consultant to avail their…
Q: As a project manager, in construction industry (a) Explain the usual activities involved in each…
A: The construction project life cycle encompasses through the following stages, 1. Initiation: It…
Q: Month January February March April May June Total Demand Average Monthly Demand TABLE 13-4 Soda…
A: Note that, there is no information related to questions b and c, so we have answered the first…
Q: Compare and contrast the similarities and differences between (a) multisource feedback workshops and…
A: Over time, many ways for evaluating an individual's performance have been created. Many of them have…
Q: 1. Construct the appropriate determine Observation 1 2 3 No. of defects per 9 2 2 unit: if the…
A:
Q: Ajax recommended execs approve a fairly substantial budget to create a video showing factory risk…
A: Integrated marketing can be stated as the blueprint or strategy for distributing or delivering…
Q: What is meant by the phrase "process control loop"?
A: In trendy, cutting-edge plants, approaches are managed to reap favored objectives. The period…
Q: You are required to draw the Critical Path Method (CPI) and complete all the necessary calculations…
A: The critical path is found by drawing the network diagram and assessing all the possible paths and…
Q: How can you tell the difference between the many tools and technologies available for IT project…
A: The approach of handling or managing the plan, strategies, business, organization, and liability to…
Q: Which type of control chart should be used? Construct a control chart with two-sigma control limits.…
A: In case of nonconformities or irregularities, a c-chart is the best-suited option.
Q: List any worldwide business networks that an organization may or may not deal with. Conduct research…
A: The term “Business Networking” refers to meeting other professionals and other business owners. This…
Q: Question 23 A large producer of household products purchases a glyceride used in one of its…
A: Cost per unit = $2.5 Monthly demand = 40 pounds Annual demand = 40*12=480 pounds Holding cost % =…
Q: If the cost of ordering inventory decreases, what happens to the economic order quantity? a. Stay…
A: Inventory management is the management in which raw materials and finished products are stored and…
Q: The production schedule at Mazda calls for 1,250 Mazdas to be produced during each of 22 production…
A: given, Mazda calls =1250 production = 22 container size = 250 tiers a =0.08
Q: y be a useful framework to use for
A: Ash Maurya developed Lean Canvas, a one-page business plan technique based on Alexander…
Q: What role does technology play in healthcare advancement and fiscal responsibility?
A: Technology: Technology is the application of scientific knowledge to the practical goals of human…
Q: Q2. Discuss different types of Operations Strategies and different types of production strategies…
A: A business operations strategy is defined as a process of decision making which would shape the long…
Q: An activity duration estimates for a certain project has the most optimistic time to complete the…
A: Formula to be used: Variance = ((P - O) ÷ 6) ^ 2 P = Pessimistic time = 20 O = Optimistic time = 3
Q: True or False One of the most significant aspects of the value chain is the linkage between a series…
A: Value chain refers to a system in which organisation performs various activities in order to deliver…
Q: What is two specific recommendations to enhance the performance Walmarts Organization?
A: Walmart is an American multinational company which has it's retail stores all around the globe. It…
Q: intermediate calculations to 2 decimal places (e.g.. 0.58) and yo Ordered quantity pots
A: Order quantity is the ideal quantity that the company needs to buy so that the cost of inventory…
Q: one: role overlo source. receiver. noise.
A: People at various levels of a company must communicate with one another in order to develop a…
Q: Describe critical path analysis. How is the critical path calculated?
A: The critical path is one of the techniques of project management. It helps in identifying the…
Q: How do integrated air carriers impact the effectiveness and efficiency of international logistics?
A: The air transport industry faces many challenges in the coming years, one of the biggest being the…
Q: Write, in your own words, what is the objective of the Statement of Quality Control Standard number…
A: A documented Quality Control Document is necessary for audit and assurance practises that must…
Q: Is having a Master file important since it contains a large amount of long-term data necessary?
A: A master is the main data recording which records permanently about a particular entries or…
Q: Spreadsheet Nighthawk Airlines measured their numbers of lost bags in one month and found that they…
A: Given data: Number of customers = 10,000 Number of lost bags = 40Average number of bags per…
Q: year. a. - Calculate the Economic Order Quantity (EOQ), Annual Ordering Cost, Annual Holding Cost…
A: Economic order quantity is the optimal order quantity that a company should purchase so that its…
Q: in reflecting on teamwork of an entrepreneurial team , what can go well and what can go wrong ?
A: An entrepreneurial team is a group of people who come together to start and run a business. The team…
Q: cle Path to Corporate Responsibilit
A: The Path to Corporate Social Responsibility
Q: What is the difference between backorder and lost sale?
A: If you are an online retailer, backorder and lost sale are two terms you hear quite often. There may…
Q: Distinguish between the advantages and disadvantages of project scheduling. Please provide details,…
A: Project scheduling, often known as project management is designed to aid in the organisation and…
Q: As a part of the quality control procedures, an audit firm may maintain records indicating which…
A: The quality control system of a company entails the company's organisational structure as well as…
Q: Bridgestone Corporation, the world’s largest tire and rubber producer, recently agreed to plead…
A: The term price fixing can be understood as a process in which the price of the product is rigidly…
Q: What is survivable systems analysis, and what are the major actions that must be done at each of the…
A: Survivable system analysis: defines the convergence of ambiguity, interdependency, & credible…
Q: Define inventory. What are the different types of inventories maintained throughout the value…
A: The inventory covers all the goods, materials, and items that are manufactured and stored by the…
Q: You are asked to analyze the kanban system of LeWin, a French manufacturer of gaming devices. One…
A:
Q: The major use of a control charels to O measure the performance of all quality characteristics of a…
A: Control charts are the charts or the standards against which which an actual works is to measured…
Q: Briefly explain five examples of early warning signs that indicate that the business may be at risk
A: Business risk is described as the threat that a company experiences when it is not able to attain…
Q: he Classical Approach of the Systems Development Life Cycle may be used to identify a problem in an…
A: The System Development Life Cycle,for petite, is a multistep, reiterative process, organized in a…
Q: Why do firms choose to streamline their supply chains?Describe two or three ways a firm might go…
A: The supply chain is the network of workers, processes, techniques, and equipment that helps the…
Q: What is methodological pyramid?
A: Research methodology can be stated as the particular approach or procedures generally utilized to…
Q: As more and more firms do business globally, transporting goodsfrom one part of the world to…
A: More firms around the globe have been transporting goods from one location to another, and they have…
Q: Explain how the growth and development of a university can be both facilitated and hindered by any…
A: The three major environmental forces which might both facilitate and hinder the growth and…
Q: ABC Factory makes clothing for well-known clothing companies. Recently, the factory has upgraded its…
A: Upgraded equipment is based on the Technological advancements that are being created all the time to…
Q: Which of the following statements about just-in-time delivery is false? Multiple Choice Just-in-time…
A: Just in time is a busines strategy that would align the raw material orders from the vendors…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
- The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?
- Cheryl Druehl Retailers, Inc., must decide whether to build a small or a large facility at a new location in Fairfax. Demand at the location will either be low or high, with probabilities 0.3 and 0.7,respectively. If Cheryl builds a small facility and demand proves to be high, she then has the option of expanding the facility. If a small facility is built and demand proves to be high, and then the retailer expands the facility, the payoff is $230,000. If a small facility is built and demand proves to be high, but Cheryl then decides not to expand the facility, the payoff is $203,000. If a small facility is built and demand proves to be low, then there is no option to expand and the payoff is $250,000. If a large facility is built and demand proves to be low, Cheryl then has the option of stimulating demand through local advertising. If she does not exercise this option, then the payoff is $40,000. If she does exercise the advertising option, then the response to…Cheryl Druehl Retailers, Inc., must decide whether to build a small or a large facility at a new location in Fairfax. Demand at the location will either be low or high, with probabilities 0.3 and 0.7, respectively. If Cheryl builds a small facility and demand proves to be high, she then has the option of expanding the facility. If a small facility is built and demand proves to be high, and then the retailer expands the facility, the payoff is $290,000. If a small facility is built and demand proves to be high, but Cheryl then decides not to expand the facility, the payoff is $253,000. If a small facility is built and demand proves to be low, then there is no option to expand and the payoff is $220,000. If a large facility is built and demand proves to be low, Cheryl then has the option of stimulating demand through local advertising. If she does not exercise this option, then the payoff is $45,000. If she does exercise the advertising option, then the response to…1. Kirsten is trying to decide where to go for her well-earned vacation. She would like to camp, but if the weather is bad, she will have to go to a motel. Given the costs and probabilities of bad weather given below, which destination should she choose? Camping cost Motel cost Probability of bad weather Nevada $21.2 $80.9 0.2 Oregon $15.9 $84.6 0.4 California $30 $95 0.1 a. California, because its EMV = $33.14 b. Nevada, because its EMV = $33.14 c. California, because its EMV = $36.5 d. Any of the 3 choices. e. Oregon, because its EMV = $43.38 f. Nevada, because its EMV = $43.38 g. None of the 3 choices. h. Oregon, because its EMV is $36.50.
- Johnson Chemicals is considering two options for itssupplier portfolio. Option 1 uses two local suppliers. Each has a “unique-event” risk of 5%, and the probability of a “super-event” that would disable both at the same time is estimated to be 1.5%. Option 2 uses two suppliers located in different countries.Each has a “unique-event” risk of 13%, and the probability of a “super-event” that would disable both at the same time is esti-mated to be 0.2%. a) What is the probability that both suppliers will be disruptedusing option 1?b) What is the probability that both suppliers will be disruptedusing option 2?c) Which option would provide the lowest risk of a total shutdown?Johnson Chemicals is considering two options for its supplier portfolio. Option 1 uses two local suppliers. Each has a “unique-event” risk of 5%, and the probability of a “superevent” that would disable both at the same time is estimated to be 1.5%. Option 2 uses two suppliers located in different countries. Each has a “unique-event” risk of 13%, and the probability of a“super-event” that would disable both at the same time is estimatedto be 0.2%. a) What is the probability that both suppliers will be disruptedusing option 1?b) What is the probability that both suppliers will be disruptedusing option 2?c) Which option would provide the lowest risk of a total shutdown?Johnson Chemicals is considering two options for itssupplier portfolio. Option I uses two local suppliers. Each hasa " unique-event" risk of 5%, and the probability of a " superevent"that would disable both at the same time is estimated to be1.5%. Option 2 uses two suppliers located in different countries.Each has a "unique-event" risk of 13%, and the probability of a"super-event" that would disable both at the same time is estimatedto be 0.2%.a) What is the probability that both suppliers will be disrupted using option I?b) What is the probability that both suppliers will be disrupted using option 2?c) Which option would provide the lowest risk of a total shutdown?
- Grocers Inc. is considering offering a purified water service through a contract company that would locate a machine on the inside of the market store. There are two contract companies Grocers Inc. is considering, ClearWater and PureVida. ClearWater would charge an annual lease fee of $800 for set-up of the machine and for this machine, there is a utility cost of $0.10 for every gallon of water dispensed and ClearWater charges $0.05 for maintenance. For PureVida, the annual lease fee is $700, the utility cost is $0.12 for every gallon and PureVida charges $0.06 for maintenance. Grocers Inc. customers would purchase refilled gallons of water for $0.97.a. What is the annual break-even point for each option?b. At what volume in number of gallons would the two options have the same cost?c. At what forecasted volume should Grocers Inc. select ClearWater and what volume should they select PureVida and why?A retailer must decide whether to build a small or a large facility at a new location. Demand at the location can be either low or high, with probabilities estimated to be 0.4 and 0.6, respectively. If a small facility is built and demand proves to be high, the manager may choose not to expand (payoff = $223,000) or to expand (payoff = $270,000). If a small facility is built and demand is low, there is no reason to expand and the payoff is $200,000. If a large facility is built and demand proves to be low, the choice is to do nothing ($40,000) or to stimulate demand through local advertising. The response to advertising may be either modest or sizable, with their probabilities estimated to be 0.3 and 0.7, respectively. If it is modest, the payoff is estimated to be only $20,000; the payoff grows to $220,000 if the response is sizable. Finally, if a large facility is built and demand turns out to be high, the payoff is $800,000.Draw a decision tree. Then analyze it to determine the…Machado Construction is considering two options for its supplier portfolio. Option 1 uses two local suppliers. Each has a "unique-event" risk of 8%, and the probability of a "super-even" that would disable both at the same time is estimated to be 2.5%. Option 2 uses two suppliers located in different countries. Each has a "unique-event" risk of 18%, and the probability of a "super-event" that would disable both at the same time is estimated to be 1.2%. (a) What is the probability that both suppliers will be disrupted using option 1? (b) What is the probability that both suppliers will be disrupted using option 2? (c) Which option would provide the lowest risk of a total shutdown?