Answered: Develop an activity schedule for this…

Develop an activity schedule for this project using early and late start and finish times, compute activity slack time and define the critical activities

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 46P

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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?
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.
How is EMV calculated for these steps. What is the probability and impact in these questions. 1) Should you play at all? (5%) If you play, what is your expected (net) monetary value? (15%)2) If you play and don't win at all on the first try (but don't lose money), should you try again? (5%) Why? (10%)3) Clearly show the decision tree (40%) and expected net monetary value at each node (25%) If you send in your entry before midnight tonight, then here are your chances: 0.1% that you win $1,000,000 75% that you win nothing Otherwise, you must PAY $1,000 But wait, there's more! If you don't win the million AND you don't have to pay on your first attempt, then you can choose to play one more time. If you choose to play again, then here are your chances: 2% that you win $100,000 20% that you win $500 Otherwise, you must PAY $2,000
Refer to the following sensitivity report: Variable Cells Cell Name Final Value Reduced Cost Objective Coefficient AllowableIncrease AllowableDecrease $B$2 Product_1 0 −2 5 2 1E+30 $B$3 Product_2 175 0 7 1E+30 1 $B$4 Product_3 0 −1.5 9 1.5 1E+30 Constraints Cell Name Final Value Shadow Price Constraint R.H.Side AllowableIncrease AllowableDecrease $H$9 Resource_A 0 0 100 1E+30 100 $H$10 Resource_B 525 0 800 1E+30 275 $H$11 Resource_C 700 1.75 700 366.6666667 700 If the objective function coefficient for Product_1 were increased to a value of 8, which of the following would be TRUE? The optimal solution would change. The optimal objective function value would stay the same. Product_1 would enter the solution (the final value of the variable Product_1 would be greater than zero).
Refer to the following sensitivity report: Variable Cells Cell Name Final Value Reduced Cost Objective Coefficient AllowableIncrease AllowableDecrease $B$2 Product_1 0 −2 5 2 1E+30 $B$3 Product_2 175 0 7 1E+30 1 $B$4 Product_3 0 −1.5 9 1.5 1E+30 Constraints Cell Name Final Value Shadow Price Constraint R.H.Side AllowableIncrease AllowableDecrease $H$9 Resource_A 0 0 100 1E+30 100 $H$10 Resource_B 525 0 800 1E+30 275 $H$11 Resource_C 700 1.75 700 366.6666667 700 If the right-hand side of Resource_C increases to 750, which of the following would be true The objective function value will increase by $1.75 The objective function value will decrease by $1.75 The objective function value will increase by $87.50 The objective function value will decrease by $87.50 None of the answer choices is correct
CVP Analysis with Income Taxes Cohen Company produces and sells socks. Variable cost is$6 per pair, and fixed costs for the year total $75,000. The selling price is $10 per pair.Required Calculate the following:1. The breakeven point in units.2. The breakeven point in sales dollars.3. The units required to make a before-tax profit of $40,000.4. The sales dollars required to make a before-tax profit of $35,000.5. The sales, in units and in dollars, required to make an after-tax profit of $25,000 given a tax rate of 30%.
Joseph Biggs owns his own ice cream truck and lives 30 miles from a florida beach resort. The sale of his products is highly dependent on his location and on the weather. At the resort, his profit will be $120 per day in fair weather, $10 per day in bad weather. At home, his profit will be $70 in fair weather and $55 in bad weather. Assume that on any particular day, the weather service suggests a 40% chance of foul weather. A) Construct Joseph's decision tree. B) What decision is recommended by the expected value criterion? NOTE: Please answer it all. Thank you so much. God bless! :)))
Mikey W. Smitty, an emerging musician, is getting ready to cut his first CD. The cost of recordingthe CD is $3,000 but copies cost $2 apiece and the CDs can be sold for $17 each. He wishes toknow how many CDs he needs to sell to break even and what his profit or loss will be if hehappens to sell only 170 CDs. Set up the breakeven problem and be prepared to answerquestions from the output.
6) Nicole has decided to go to school which costs her a total of P19,500 and give upi on a job that paid her P24,900 for the year. But instead, she can hope to earn P29,900 after she graduates. Nicole's opportunity cost amount to?a. P19,500 b. P24,900c. P29,900d. P5,000 7. Villanueva Enterprises reported the ff. information. What is the cost of goods manufactured in February?I. Jan. 2017 -job accumulated cost of P3,000ii. Feb. 2017 -the following costs were added to production: Job 1-P10,000 Job 2-P8,000Job 3-P7,000 III. Feb. 2017 Job 1 was completed and sold for P18,000 Job 2 was completed but not sold Job 3 remains in production b. P8,000c. P10,000 d. P13,000e. P21,000 8. Julie borrowed a certain amount from Diane on June 2016. Two years later, Julle i again borrowed P5,000. Julie decided to pay P1,000 on June 2019 and dischargei her balance by paying P7,500 on June 2021. What was the amount borrowed oni June 2016 if the interest rate is 8% compounded annually?a. P1,389.50 b.…
S9. A Co-operative bank QLB grants loansunder the following conditions. -(a) If customer has an account witbank and has no loan outstandingwill be granted.(b) If customer has an account with thebank but some amount is outstandingfrom previous loan, then loan will begranted if special arrangementapproval is obtained.(c) Reject loan applications in all other cases. Draw Decision Tree and Table for the bank . This under System Analysis and Design.
Stinnett Transmissions, Incorporated, has the following estimates for its new gear assembly project: Price $1,220 per unit; variable costs = $3.75 million; quantity = 90,000 units. Suppose the company believes all of its estimates are accurate only to within ±15 percent. What values should the company use for the four variables given here when it performs its best-case scenario analysis? What about the worst-case scenario? Pls don't copy answer i give up vote