policy or mechanism could solve any informational imbalances
Q: What are the four components of CSR or 'corporate social responsibility"?
A: Corporate social responsibility refers to practices and policies that is implemented by corporations...
Q: 10. The Project Manager and the Project Team will be listed on an Object-Based Communication Matrix....
A: A communication matrix - is the document outlining the communication administration plan for the pro...
Q: John Doe, a fraud examiner, has been hired by ABC Corporation to investigate a shortage of cash, whi...
A: John and most other fraud examiners are inclined toward documents over witnesses as documents rememb...
Q: Discuss the method of procurement and procedure you will propose to procure the services of a contra...
A: Procurement refers to the goods and services which are needed to be procured for an organization's d...
Q: b) - Draw the Activity-on-Node (AON) diagram using the following representation for every node: Acti...
A: Project network is the graphical representation of project activities and their duration to complete...
Q: 10. Quarterly demand for Jaguar XJ8’s at a Tacloban Auto dealership is forecast with the equation, ...
A: Forecasting is used by companies to match supply with demand and to avoid opportunity costs issues. ...
Q: 2. A company has three branches: Manila Branch, Davao Branch, and Tacloban Branch. These branches...
A: Given data is
Q: 1. CWD Business systems maintains a successful Telecom sales department for Top up cl credit in whic...
A: Mean number of incoming calls per hour () = 15/hr Mean number of orders taken per hour () = 60 mins/...
Q: 2. Overbooking is the practice of booking seats/rooms in excess of the actual seats available in fli...
A: As per the given information in the question, PI = Price of a unit of capacity = PHP 3500 per day (H...
Q: forecast for weeks 7-24 using 6 week weighted moving average
A: Weighted moving average is a forecasting model which helps to identify the forecasting using the wei...
Q: Using the Solver, find the solution and answer the questions given below the LP
A: The optimal solution can be developed as follows:
Q: Famous Money Designs (FMD) manufactures a standard size tennis racket and an oversize tennis racket....
A:
Q: tions to Operations Management. Need long answer.thanks for your help
A: An approach to management based on Six Sigma emphasizes statistical improvements to a company proces...
Q: Your sister who married an American businessman wants to build a rest house in the highlands of Buki...
A: Total cost of construction = $150,000 Total area of construction = 2000 square feet
Q: Why do you think quality is an integral function in an organization in the perspective of operations...
A: The quality of the product is usually measured in terms of performance and reliability and these par...
Q: what are the risks in each phase of the project life cycle
A: The following are the risks associated with the different phases of project life cycle.
Q: How does operations research improve the betterment of our society? And how can we link it to optimi...
A: Introduction: Operations research (OR) is an analytical approach to hassle-fixing and selection-maki...
Q: The article above states: “Therefore companies should determine their pricing with the quality of th...
A: CUSTOMER SATISFACTION AND CUSTOMER LOYALTY - Despite the fact that they are personally connected, th...
Q: The current date is day 275 and the following jobs are waiting to be processed at the same equipment...
A: Given-
Q: A company is thinking about significantly expanding its production capacity. Determine the variables...
A: The production capacity of the company defines how much the company is capable to meet the demands o...
Q: Net requirements =a) Gross requirements + Allocations - On-hand inventory+ Scheduled receipts.b) Gro...
A: Gross requirements are generally described as the aggregate of demand prior to the netting of any in...
Q: What are INCOTERMS and why are they so important in international transactions? Give an example of a...
A: Incoterms are identified as International Commercial Terms. They are outline as commercial terms lin...
Q: Smith Smith Products Ltd produces two products, in a process which is partly automated. It is restr...
A:
Q: A company is manufacturing two products, A and B, at the production facilities in town X and Y. Four...
A: note: there are intermediate constraint also i.e. supply to stocks = supply from stocks
Q: Operations Management managers operate in an exciting and dynamic environment that face a number of ...
A: Operations management include planning, coordinating and overseeing. By utilizing the fewest resourc...
Q: Under ideal conditions, a service bay at a Fast Lube can serve 7 cars per hour The effective capacit...
A: Production is the process of developing finished products using the raw resources and materials for ...
Q: Discuss whether any duty drawback is admissible under section 75 of Customs Act in the following cas...
A: Section 75 of Customs Act: Admissibility of Drawback The drawback under section 75 is on a whole ot...
Q: BCG matrix for Macdonald's,
A: McDonald is a leading fast food company. BCG matrix is a combination of 4 components- Star:maximum...
Q: Describe one of Amazon's successful mergers or acquisitions. What part(s) of the value chain were i...
A: The largest of Amazon's acquisitions by quite far occurred in 2017 - the Seattle monster declared it...
Q: 1. Identify the organizational driver/s that help P&G recognize the need for its environmental initi...
A: (1)Here during this half i will be able to first justify organizational drivers, thus structure driv...
Q: Given the situations below, (a) discuss with reasons whether they fall into the category of applied ...
A: According to Gencore Industries' situation, the failure to execute proper applied research was the r...
Q: What is Machine Scheduling in Integer linear optimization and put example.
A: A Small Introduction about Scheduling Scheduling is the method involved with organizing, controll...
Q: Compute the expected activity completion times and the variance for each activity
A: A PERT diagram helps to identify the project duration using the three dimension model of activity du...
Q: Solve the problem about linear programming subparts A,B,C with the step and no reject. Im needed in ...
A:
Q: Evaluate Golden Valley Food’s present situation. What would you advise Neal Middleton to do not impr...
A: A Small Introduction about Production Management Production management is a course of arranging, ...
Q: TRUE or FALSE 1. The value-based quality perspective is from the point view of the product design...
A: 1. Value-based quality perspective This quality viewpoint compares a product's quality to that of co...
Q: List down the secondary conversions for the following websites 1myntra 2goibibo 3snapchat 4timesofin...
A: A Small Introduction about Quality Management Quality administration is the demonstration of direct...
Q: 1. Choose a CEO or a promise firm that you believe exemplifies strategic leadership? 2. What actions...
A: Challenges associated with strategic leadership: 1. High expense is the drawback of strategic leader...
Q: Briefly explain the 5 critical decision making criteria in Operations which can support mission and ...
A: Supply chain management is the management in which the production of products and services are manag...
Q: we worked on a problem for Flor’s Flours, a small business that produces two types of ready-to-use m...
A:
Q: Define the term of methodologies, techniques and tools
A: A Small Introduction about Management The board processes incorporate preparation, sorting out, c...
Q: 1,) In a community of 100,000 adults, subscribers to the newspaper, the Tallahassee Democrat, tend t...
A: Process analysis is a method that permits an unmistakable understanding of an organization's busines...
Q: as project manager selected to head the sargussum seaweed project, you are responsible for creating...
A: Here, we could see that the Project manager would head the mentioned project and this project manage...
Q: traditional or behavioral economic beliefs
A: Traditional economy is a system in which economic decision are taken on the basis of custom, traditi...
Q: Questions Organizations strive to achieve a standard of production wherein they aim to optimize thei...
A: Note: - Since the exact question that has to be answered is not specified we will answer the first q...
Q: ) List and explain the phases that mark the life of a project. 2) For each project phase identified...
A: The phases in project life cycle are, 1. Initiation 2. Planning 3. Monitoring, Execution and control...
Q: Liz Raiborn Inc. has the following financial results for the years 2019 through 2021 for its three r...
A: 1. Return on sales (ROS) is a ratio used to evaluate an organization's operational proficiency. This...
Q: “flexibility,” “expansion,” and “access” in site selection for a processing plant?
A: The geological area of the last plant can have solid impact on the accomplishment of the modern ende...
Q: The proposed Ghana Airways Airline project is being procured through a Public-Private Partnership (P...
A: Decision tree analysis can be stated as the approach of sketching or drawing a decision tree, which ...
Q: XYZ Corporation manufactures two products, Simple and Complex. The following annual information was...
A: Profit maximization is a cycle business firms go through to guarantee the best result and cost level...
Suppose the
What policy or mechanism could solve any informational imbalances and restore the market to an efficient allocation of used cars?
Step by step
Solved in 2 steps
- Amanda has 30 years to save for her retirement. At the beginning of each year, she puts 5000 into her retirement account. At any point in time, all of Amandas retirement funds are tied up in the stock market. Suppose the annual return on stocks follows a normal distribution with mean 12% and standard deviation 25%. What is the probability that at the end of 30 years, Amanda will have reached her goal of having 1,000,000 for retirement? Assume that if Amanda reaches her goal before 30 years, she will stop investing. (Hint: Each year you should keep track of Amandas beginning cash positionfor year 1, this is 5000and Amandas ending cash position. Of course, Amandas ending cash position for a given year is a function of her beginning cash position and the return on stocks for that year. To estimate the probability that Amanda meets her goal, use an IF statement that returns 1 if she meets her goal and 0 otherwise.)A common decision is whether a company should buy equipment and produce a product in house or outsource production to another company. If sales volume is high enough, then by producing in house, the savings on unit costs will cover the fixed cost of the equipment. Suppose a company must make such a decision for a four-year time horizon, given the following data. Use simulation to estimate the probability that producing in house is better than outsourcing. If the company outsources production, it will have to purchase the product from the manufacturer for 25 per unit. This unit cost will remain constant for the next four years. The company will sell the product for 42 per unit. This price will remain constant for the next four years. If the company produces the product in house, it must buy a 500,000 machine that is depreciated on a straight-line basis over four years, and its cost of production will be 9 per unit. This unit cost will remain constant for the next four years. The demand in year 1 has a worst case of 10,000 units, a most likely case of 14,000 units, and a best case of 16,000 units. The average annual growth in demand for years 2-4 has a worst case of 7%, a most likely case of 15%, and a best case of 20%. Whatever this annual growth is, it will be the same in each of the years. The tax rate is 35%. Cash flows are discounted at 8% per year.In August of the current year, a car dealer is trying to determine how many cars of the next model year to order. Each car ordered in August costs 20,000. The demand for the dealers next year models has the probability distribution shown in the file P10_12.xlsx. Each car sells for 25,000. If demand for next years cars exceeds the number of cars ordered in August, the dealer must reorder at a cost of 22,000 per car. Excess cars can be disposed of at 17,000 per car. Use simulation to determine how many cars to order in August. For your optimal order quantity, find a 95% confidence interval for the expected profit.
- Based on Babich (1992). Suppose that each week each of 300 families buys a gallon of orange juice from company A, B, or C. Let pA denote the probability that a gallon produced by company A is of unsatisfactory quality, and define pB and pC similarly for companies B and C. If the last gallon of juice purchased by a family is satisfactory, the next week they will purchase a gallon of juice from the same company. If the last gallon of juice purchased by a family is not satisfactory, the family will purchase a gallon from a competitor. Consider a week in which A families have purchased juice A, B families have purchased juice B, and C families have purchased juice C. Assume that families that switch brands during a period are allocated to the remaining brands in a manner that is proportional to the current market shares of the other brands. For example, if a customer switches from brand A, there is probability B/(B + C) that he will switch to brand B and probability C/(B + C) that he will switch to brand C. Suppose that the market is currently divided equally: 10,000 families for each of the three brands. a. After a year, what will the market share for each firm be? Assume pA = 0.10, pB = 0.15, and pC = 0.20. (Hint: You will need to use the RISKBINOMLAL function to see how many people switch from A and then use the RISKBENOMIAL function again to see how many switch from A to B and from A to C. However, if your model requires more RISKBINOMIAL functions than the number allowed in the academic version of @RISK, remember that you can instead use the BENOM.INV (or the old CRITBENOM) function to generate binomially distributed random numbers. This takes the form =BINOM.INV (ntrials, psuccess, RAND()).) b. Suppose a 1% increase in market share is worth 10,000 per week to company A. Company A believes that for a cost of 1 million per year it can cut the percentage of unsatisfactory juice cartons in half. Is this worthwhile? (Use the same values of pA, pB, and pC as in part a.)W. L. Brown, a direct marketer of womens clothing, must determine how many telephone operators to schedule during each part of the day. W. L. Brown estimates that the number of phone calls received each hour of a typical eight-hour shift can be described by the probability distribution in the file P10_33.xlsx. Each operator can handle 15 calls per hour and costs the company 20 per hour. Each phone call that is not handled is assumed to cost the company 6 in lost profit. Considering the options of employing 6, 8, 10, 12, 14, or 16 operators, use simulation to determine the number of operators that minimizes the expected hourly cost (labor costs plus lost profits).You now have 10,000, all of which is invested in a sports team. Each year there is a 60% chance that the value of the team will increase by 60% and a 40% chance that the value of the team will decrease by 60%. Estimate the mean and median value of your investment after 50 years. Explain the large difference between the estimated mean and median.
- An automobile manufacturer is considering whether to introduce a new model called the Racer. The profitability of the Racer depends on the following factors: The fixed cost of developing the Racer is triangularly distributed with parameters 3, 4, and 5, all in billions. Year 1 sales are normally distributed with mean 200,000 and standard deviation 50,000. Year 2 sales are normally distributed with mean equal to actual year 1 sales and standard deviation 50,000. Year 3 sales are normally distributed with mean equal to actual year 2 sales and standard deviation 50,000. The selling price in year 1 is 25,000. The year 2 selling price will be 1.05[year 1 price + 50 (% diff1)] where % diff1 is the number of percentage points by which actual year 1 sales differ from expected year 1 sales. The 1.05 factor accounts for inflation. For example, if the year 1 sales figure is 180,000, which is 10 percentage points below the expected year 1 sales, then the year 2 price will be 1.05[25,000 + 50( 10)] = 25,725. Similarly, the year 3 price will be 1.05[year 2 price + 50(% diff2)] where % diff2 is the percentage by which actual year 2 sales differ from expected year 2 sales. The variable cost in year 1 is triangularly distributed with parameters 10,000, 12,000, and 15,000, and it is assumed to increase by 5% each year. Your goal is to estimate the NPV of the new car during its first three years. Assume that the company is able to produce exactly as many cars as it can sell. Also, assume that cash flows are discounted at 10%. Simulate 1000 trials to estimate the mean and standard deviation of the NPV for the first three years of sales. Also, determine an interval such that you are 95% certain that the NPV of the Racer during its first three years of operation will be within this interval.Play Things is developing a new Lady Gaga doll. The company has made the following assumptions: The doll will sell for a random number of years from 1 to 10. Each of these 10 possibilities is equally likely. At the beginning of year 1, the potential market for the doll is two million. The potential market grows by an average of 4% per year. The company is 95% sure that the growth in the potential market during any year will be between 2.5% and 5.5%. It uses a normal distribution to model this. The company believes its share of the potential market during year 1 will be at worst 30%, most likely 50%, and at best 60%. It uses a triangular distribution to model this. The variable cost of producing a doll during year 1 has a triangular distribution with parameters 15, 17, and 20. The current selling price is 45. Each year, the variable cost of producing the doll will increase by an amount that is triangularly distributed with parameters 2.5%, 3%, and 3.5%. You can assume that once this change is generated, it will be the same for each year. You can also assume that the company will change its selling price by the same percentage each year. The fixed cost of developing the doll (which is incurred right away, at time 0) has a triangular distribution with parameters 5 million, 7.5 million, and 12 million. Right now there is one competitor in the market. During each year that begins with four or fewer competitors, there is a 25% chance that a new competitor will enter the market. Year t sales (for t 1) are determined as follows. Suppose that at the end of year t 1, n competitors are present (including Play Things). Then during year t, a fraction 0.9 0.1n of the company's loyal customers (last year's purchasers) will buy a doll from Play Things this year, and a fraction 0.2 0.04n of customers currently in the market ho did not purchase a doll last year will purchase a doll from Play Things this year. Adding these two provides the mean sales for this year. Then the actual sales this year is normally distributed with this mean and standard deviation equal to 7.5% of the mean. a. Use @RISK to estimate the expected NPV of this project. b. Use the percentiles in @ RISKs output to find an interval such that you are 95% certain that the companys actual NPV will be within this interval.Suppose you currently have a portfolio of three stocks, A, B, and C. You own 500 shares of A, 300 of B, and 1000 of C. The current share prices are 42.76, 81.33, and, 58.22, respectively. You plan to hold this portfolio for at least a year. During the coming year, economists have predicted that the national economy will be awful, stable, or great with probabilities 0.2, 0.5, and 0.3. Given the state of the economy, the returns (one-year percentage changes) of the three stocks are independent and normally distributed. However, the means and standard deviations of these returns depend on the state of the economy, as indicated in the file P11_23.xlsx. a. Use @RISK to simulate the value of the portfolio and the portfolio return in the next year. How likely is it that you will have a negative return? How likely is it that you will have a return of at least 25%? b. Suppose you had a crystal ball where you could predict the state of the economy with certainty. The stock returns would still be uncertain, but you would know whether your means and standard deviations come from row 6, 7, or 8 of the P11_23.xlsx file. If you learn, with certainty, that the economy is going to be great in the next year, run the appropriate simulation to answer the same questions as in part a. Repeat this if you learn that the economy is going to be awful. How do these results compare with those in part a?
- A European put option allows an investor to sell a share of stock at the exercise price on the exercise data. For example, if the exercise price is 48, and the stock price is 45 on the exercise date, the investor can sell the stock for 48 and then immediately buy it back (that is, cover his position) for 45, making 3 profit. But if the stock price on the exercise date is greater than the exercise price, the option is worthless at that date. So for a put, the investor is hoping that the price of the stock decreases. Using the same parameters as in Example 11.7, find a fair price for a European put option. (Note: As discussed in the text, an actual put option is usually for 100 shares.)Six months before its annual convention, the American Medical Association must determine how many rooms to reserve. At this time, the AMA can reserve rooms at a cost of 150 per room. The AMA believes the number of doctors attending the convention will be normally distributed with a mean of 5000 and a standard deviation of 1000. If the number of people attending the convention exceeds the number of rooms reserved, extra rooms must be reserved at a cost of 250 per room. a. Use simulation with @RISK to determine the number of rooms that should be reserved to minimize the expected cost to the AMA. Try possible values from 4100 to 4900 in increments of 100. b. Redo part a for the case where the number attending has a triangular distribution with minimum value 2000, maximum value 7000, and most likely value 5000. Does this change the substantive results from part a?The customer loyalty model in Example 11.9 assumes that once a customer leaves (becomes disloyal), that customer never becomes loyal again. Assume instead that there are two probabilities that drive the model, the retention rate and the rejoin rate, with values 0.75 and 0.15, respectively. The simulation should follow a customer who starts as a loyal customer in year 1. From then on, at the end of any year when the customer was loyal, this customer remains loyal for the next year with probability equal to the retention rate. But at the end of any year the customer is disloyal, this customer becomes loyal the next year with probability equal to the rejoin rate. During the customers nth loyal year with the company, the companys mean profit from this customer is the nth value in the mean profit list in column B. Keep track of the same two outputs as in the example, and also keep track of the number of times the customer rejoins.