TABLE 13.7 FACTORS FOR NEWLYWEDS Factor Score for Each Location Location Factor Factor Weight A C 1. Rent 25 3 1 2. Quality of life 20 4 3. Schools 3 1 4. Proximity to work 10 3 4 3 5. Proximity to recreation 15 4 4 6. Neighborhood security 15 2 4 4 4 7. Utilitites 10 2 4 Total 100 LO 2. 5, 3. 2.
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Wagner Remodelers Inc. is looking for a new city in which
to relocate their home remodeling business. The company
employs highly skilled craftspeople who rehabilitate old
housing. Most of their current craftspeople will relocate with
the company; however, additional works at the new location
will be hired. The most important location factors for the
company were weighted and three target cities were scored
against these factors a. Which location is indicated by the preference matrix?
b. Would the best location change if the company decided
not to relocate any of its current craftspeople but instead
hire only from the population at their new location?
Assume that factors 8 and 9 are now given no weight and
factor 5 is twice as important.
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- Ian Langella faces a decision how large his gasoline station should be. The annual returns wil l depend on both the size of his station and number of marketing factors related to the oil in dustry and demand for gasoline. Ian develop a careful analysis based on the following table: Size of first station Market condition Market conditon Market conditon Good Fair Poor Small 50,000 20,000 -10,000 Medium 80,000 30,000 -20,000 Large 100,000 30,000 -40,000 Very large 300,000 25,000 -160,000 Develop a decision table for this decisionProblem 17 page 552The chancellor of a small regional college is concernedabout the declining freshman enrollment at his college. A number of factors have contributed to the decline, butthe chancellor believes it is directly related to annualtuition increases. He has collected the following data forthe past 8 years.year FreshmanEnrollmentAnnualTuition (In USdollars)1 6,550 32,0002 6,230 37,0003 5,980 45,2004 5,540 45,7005 4,960 46,2006 4,630 46,7007 4,520 52,2008 4,220 57,700a Develop a linear regression equation for forecastingfreshman enrollment as a function of the annual tuition.b Forecast freshman enrollment if the annual tuitionincreases by US$9,000 in Year 9.c Evaluate the "goodness of fit" of the regressionequation by computing the values of R2, r, and Syx and interpret the results.Garfield Industries is expanding its operations throughout the Southeast United States. Garfield anticipates that the expansion will increase sales by $1,000,000 and increase operating costs (excluding depreciation and amortization) by $700,000. Depreciation and amortization expenses will rise by $50,000, interest expense will increase by $150,000, and the company’s tax rate will remain at 40 percent. If the company’s forecast is correct, how much will net income increase or decrease, as a result of the expansion?
- The CEO of Lucky Petroleum Co. has been considering to open a new gasoline statioin. He must decide how large the station should be. The annual returns (IDR billions) will depend on both the size of the station and market factor. After a careful analysis he developed the following table: Size of Station Good Market Fair Market Poor Market Small 50 20 -10 Medium 70 30 -20 Large 100 50 -30 Probability 0.5 0.3 0.2 Compute the expected value of each alternative size of station, and select the best decision. Construct the opportunity loss table and determine the best decision. Compute the expected value of perfect information.1) A television network earns an average of $1.6 million each season from a hit program and loses an averageof $400,000 each season on a program that turns out to be a flop, and of all programs picked up by thisnetwork in recent years, 25% turn out to be hits and 75% turn out to be flops. a) Construct a decision tree to help the television network identify the strategy that maximizes itsexpected profit in responding to a newly proposed television program. Make sure to label all decision and chance nodes and include appropriate costs, payoffs and probabilities. b) What should the network do? What is their expected profit? c) The network can conduct market research to determine whether a program will be a hit or a flop. Ifthe market research report is perfectly reliable, what is the most the network should be willing to payfor it? 2) A buyer for a large sporting goods store chain must place orders for professional footballs with the footballmanufacturer six months prior to the time…#3) In the environment of increased competition, a fitness club executive is considering the purchase of additional equipment. They are choosing between Acme, Standard and High Pro. With new equipment they can attract new clients and increase their overall profits. The profits are dependent on the markets demand for the new equipment and brand name recognition. If they go with the Acme equipment, there profit would be $375,000 in a favorable market or -$125,000 in an unfavorable market. If they go with the Standard equipment, there profit would be $250,000 in a favorable market or -$95,000 in an unfavorable market. If they go with the High Pro equipment, there profit would be $175,000 in a favorable market or -$50,000 in an unfavorable market. a) Create a decision table and a decision tree. b) If the executive is an optimistic decision maker, which alternative will he choose? What is the payoff? c) If the executive is a pessimistic decision maker, which alternative will he choose? What…
- 4. In the past, Peter Kelle's tire dealership in Baton Rouge sold an average of 1,100 radials each year. In the past 2 years, 220 and 250, respectively were sold in fall, 360 and 300 in winter, 150 and 160 in spring, and 320 and 440 in summer. With a major expansion planned, Kelle projects sales next year to increase to 1,300 radials. Part 2 Based on next year's projected sales, the demand for each season is going to be (enter your responses as whole numbers): Season Demand Fall __________Tropical Seafoods is a small new restaurant that has opened in town. Sales have been steadily increasing as “word of mouth” has spread through the capital. In its first 12 weeks, sales at Tropical Seafoods (in $ 1000s) havebeen: WEEK SALES 1 18 2 22 3 26 4 24 5 28 6 32 7 32 8 40 9 38 10 42 11 40 12 46 1. Using a weighted moving average with three periods, determine the sales for period 13. Use 3, 2, and 1 for the weights of the most recent, second most recent, and third most recent periods, respectively2. Find the MAD, MSE and MAPE 3. Use exponential smoothing with a smoothing constant of 0.50 to forecast the sales (Assume that last period’s forecast for period 1 is equal to actual to begin the procedure (Ft1=Yt1). Which method do you think is best? Is this an improvement over the weighted average- use MAD only1) A television network earns an average of $1.6 million each season from a hit program and loses an average of $400,000 each season on a program that turns out to be a flop, and of all programs picked up by this network in recent years, 25% turn out to be hits and 75% turn out to be flops. a) Construct a decision tree to help the television network identify the strategy that maximizes itsexpected profit in responding to a newly proposed television program. Make sure to label all decisionand chance nodes and include appropriate costs, payoffs and probabilities. b) What should the network do? What is their expected profit? c) The network can conduct market research to determine whether a program will be a hit or a flop. If the market research report is perfectly reliable, what is the most the network should be willing to pay for it? 2) A buyer for a large sporting goods store chain must place orders for professional footballs with the football manufacturer six months prior to the…
- Long-Life Insurance has developed a linear model that it uses to determine the amount of term life insurance a family of four should have, based on the current age of the head of the household. The equation is:y = 850 − .1xwherey = Insurance needed ($000)x = Current age of head of household a. Plot the relationship on a graph. b. Use the equation to determine the amount of term life insurance to recommend for a family of four if the head of the household is 30 years old.What is educational about the article Wall Street Journal The Secret Oil-Trading Ring That Funds Russia’s War by by Joe Wallace? What is interesting about the article Wall Street Journal The Secret Oil-Trading Ring That Funds Russia’s War by by Joe Wallace? What is insightful about the article Wall Street Journal The Secret Oil-Trading Ring That Funds Russia’s War by by Joe Wallace? Article Link: The Secret Oil-Trading Ring That Funds Russia’s War -Corporate triple-A bond interest rates for 12 consecutive months follow. 9.6 9.4 9.5 9.7 9.9 9.8 9.8 10.6 10.0 9.8 9.6 9.6 (b) Develop three-month and four-month moving averages for this time series. (Round your answers to two decimal places.) Month Time SeriesValue 3-Month MovingAverage Forecast 4-Month MovingAverage Forecast 1 9.6 2 9.4 3 9.5 4 9.7 5 9.9 6 9.8 7 9.8 8 10.6 9 10.0 10 9.8 11 9.6 12 9.6 (c) Using the more accurate forecast, what is the moving average forecast for the next month? (Round your answer to two decimal places.)