Maha is involved in making an important decision regarding the purchase of new equipment for her company's only manufacturing plant. She has just identified several alternative possibilities that will solve the problem that is facing her. What should she do next O a. Identify alternatives O b. Select the best alternative O c. Evaluate the alternatives O d. Implement the chosen alternative
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- Seas Beginning sells clothing by mail order. An important question is when to strike a customer from the companys mailing list. At present, the company strikes a customer from its mailing list if a customer fails to order from six consecutive catalogs. The company wants to know whether striking a customer from its list after a customer fails to order from four consecutive catalogs results in a higher profit per customer. The following data are available: If a customer placed an order the last time she received a catalog, then there is a 20% chance she will order from the next catalog. If a customer last placed an order one catalog ago, there is a 16% chance she will order from the next catalog she receives. If a customer last placed an order two catalogs ago, there is a 12% chance she will order from the next catalog she receives. If a customer last placed an order three catalogs ago, there is an 8% chance she will order from the next catalog she receives. If a customer last placed an order four catalogs ago, there is a 4% chance she will order from the next catalog she receives. If a customer last placed an order five catalogs ago, there is a 2% chance she will order from the next catalog she receives. It costs 2 to send a catalog, and the average profit per order is 30. Assume a customer has just placed an order. To maximize expected profit per customer, would Seas Beginning make more money canceling such a customer after six nonorders or four nonorders?It costs a pharmaceutical company 75,000 to produce a 1000-pound batch of a drug. The average yield from a batch is unknown but the best case is 90% yield (that is, 900 pounds of good drug will be produced), the most likely case is 85% yield, and the worst case is 70% yield. The annual demand for the drug is unknown, with the best case being 20,000 pounds, the most likely case 17,500 pounds, and the worst case 10,000 pounds. The drug sells for 125 per pound and leftover amounts of the drug can be sold for 30 per pound. To maximize annual expected profit, how many batches of the drug should the company produce? You can assume that it will produce the batches only once, before demand for the drug is known.A firm that plans to expand its product line must decide whether to build a small or a large facilityto produce the new products. If it builds a small facility and demand is low, the net present valueafter deducting for building costs will be $400,000. If demand is high, the firm can either maintainthe small facility or expand it. Expansion would have a net present value of $450,000, and maintaining the small facility would have a net present value of $50,000.If a large facility is built and demand is high, the estimated net present value is $800,000. If demandturns out to be low, the net present value will be – $10,000.The probability that demand will be high is estimated to be .60, and the probability of low demandis estimated to be .40.a. Analyze using a tree diagram.
- A firm that plans to expand its product line must decide whether to build a small or a large facilityto produce the new products. If it builds a small facility and demand is low, the net present valueafter deducting for building costs will be $400,000. If demand is high, the firm can either maintainthe small facility or expand it. Expansion would have a net present value of $450,000, and maintaining the small facility would have a net present value of $50,000.If a large facility is built and demand is high, the estimated net present value is $800,000. If demandturns out to be low, the net present value will be – $10,000.The probability that demand will be high is estimated to be .60, and the probability of low demandis estimated to be .40. 1- Compute the EVPI 2- Determine the range over which each alternative would be best in terms of the value of P ( low demand )A goldsmith makes two types of jewelry. A model A ring is made with 1 g of gold and 1.5 g of silver and sells for 25 UM.Another model B ring sells for 30 UM and is made of 1.5 g of gold and 1 g of silver. If you only have 750 gof each metal, how many rings should be made of each type to obtain maximum profit?Requested:- Make Initial Table of the problem.- Obtain the Case Variables- Obtain the Objective Function- Get Restrictions- Create the Simplex Table- Obtain the Optimal Solution and the Slack Variables.Solve this operational research exercise.Please explain the answer with explanation asap: a) Which OR problem is this? b) Decision variable? c) Objective and objective function? d) Constraints?
- A company is considering a new product launch. There is a 0.6 chance thatdemand for the product will be strong and a 0.4 chance that demand will beweak. Two strategies for the launch are possible: 1 has high promotion costs anda net cash outflow of K120 000 if demand proves to be strong, and if demandproves weak a net cash outflow of (K30 000) will result. Strategy 2 has lowpromotion costs and if demand is strong will generate a cash inflow of only K80000 but with weak demand a net cash inflow of K20 000. i. Draw a decision tree and advise which course of action generates thegreatest expected profit. ii. What is the maximum amount that should be paid for market research todetermine with certainty whether demand will be strong or weak?In the problem on excel : 1.What are the decision variables 2.What is the objective functions 3. What are the 12 constraints and explain You won $750,000 from a lottery and, you have decided to come up with a list of possible investments that you will invest, all of the $750,000 that you have won. The expected return of each of the 6 possible investments that you are considering investing in,and their Expected Rate of Return over the next year are in the table below. Investment Expected Rate of return Amazon Inc (USA Shares) 13.5% Royal Bank of Canada (Canadian Shares) 7.4% Nike Inc (USA Shares) 10.0% Telus Corporation (Canadian Shares) 6.1% Snap Inc (USA Shares) 3.0% Nestle SA (Switzerland Shares) 4.8% it is important to have a diversified portfolio, and therefore have come up with the following guidelines on how to invest your money: 1.The total invested in USA Shares should be at least 10% but no more then 45% of the total…A food company is considering three different salad dressings to introduce nationally, Dressing A, B, and C. They also have the option to not introduce any dressing this year. The profits from dressings A, B, and C are $1,144,712, $1,515,938, and $2,525,542 respectively if the national market is favorable. However, if the national market is unfavorable, the losses are $555,615, $758,875, and $912,435 respectively. Historical data shows a probability of 0.568 for a favorable national market. The company can test the market for salad dressings in selected geographic areas before introducing them nationally. The cost of the test market is $53,331. In the past, the probability of a negative test market was 0.354. Given a positive test market, a favorable national market was actually observed with a probability of 0.745. Given a negative test market, a favorable national market was actually observed with a probability of 0.304. Determine if the company should test the market before…
- You have an idea for a new web service that offers customized workouts for subscribers. Build a spreadsheet to calculate 1) the number of new customers each month and 2) the total customer base (cumulative number of customers signed up) each month. Mimic what we did in the class to project the subscription volumes for 60 months under the following sets of assumptions. a)Total market potential is 1,000,000 customers. Each month, you sign up 2% of customers in the market that have not yet signed up. b)Total market potential is initially 1,000,000 customers, but grows at 1% per month. Each month, you sign up 2% of customers in the market that have not yet signed up. Use the graph wizard to make a graph comparing total customer base under each of the two scenarios. Which type of graph is appropriate?#28Even though independent gasoline stations have been having a difficult time, Susan Solomon hasbeen thinking about starting her own independent gasoline station. Susan’s problem is to decide howlarge her station should be. The annual returns will depend on both the size of her station and a numberof marketing factors related to the oil industry and demand for gasoline. After a careful analysis, Susandeveloped the following table: GOOD FAIR POORSIZE OF MARKET MARKET MARKETFIRST STATION ($) ($) ($)Small 50,000 20,000 –10,000Medium 80,000 30,000 –20,000Large 100,000 30,000 –40,000Very large 300,000 25,000 –160,000For example, if Susan constructs a…Eunice, in The scenario, wants to determine how each of the 3 companies will decide onpossible new investments. He was able to determine the new investment pay off for eachof the three choices as well as the probability of the two types of market. If a company willlaunch product 1, it will gain 125,000 if the market is successful and lose 125,000 if themarket is a failure. If a company will launch product 2, it will gain 75,000 if the market issuccessful and lose 75,000 if the market will fail. If a company decides not to launch anyof the product, it will not be affected whether the market will succeed or fail. There is a53% probability that the market will succeed and 47% probability that the market will fail.What will be the companies decision based on EMV? What is the decision of eachcompany based on expected utility value?