REVIEWNo REVIEW13.2010.22FAVORABLE=.7014.6012.507.60FAVORABLEUNFAVORABLE35LargeSmallLargeSmallLarge$16S2 $2S $107S₂ $5.451 $168652 $2.85 $10112 5₂ $5Using the Decision Tree above, determine the Expected Value with Sample Information (EV with SI).Small6910$1032 $5-$16$2

Expected values are calculated by multiplying the probability of an event occurring with the value…

Answered: Using the Decision Tree above,…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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What information does a decision maker need in order to perform an expected-value analysis ofa problem? What options are available to the decision maker if the probabilities of the states ofnature are unknown? Can you think of a way you might use sensitivity analysis in such a case?
The final stage on a production line for a repairableproduct comprises an old final test station withaccompanying analysis and repair stations.First Time Yield (FTY) is 0.720. To improve quality the old test station is replaced by anew model with higher performance.Using the production line final stage parameter values inTable QB1, on the next page, calculate thenew FTY Original final test time 15.0 minOriginal final test effectiveness 0.900New final test time 14.9 minNew final test effectiveness 0.930Analysis time 60.0 minRepair time 15.0 minTest station cost $100,000Analysis station cost $200,000Repair station cost $150,000Test cost $160 per hour per stationAnalysis cost $425 per hour per stationRepair cost $128 per hour per stationWarranty cost $250 per warranty claim perdefective product shipped
Refer to Problems 1 and 2. Construct a graph that will enable you to perform sensitivity analysis on the problem. Over what range of P(high) would the alternative of doing nothing be best? Expand? Subcontract?
I was asking for help on question number 3 not number one 3. Refer to Problems 1 and 2. Construct a graph that will enable you to perform sensitivity analysis on the problem. Over what range of P(high) would the alternative of doing nothing be best? Expand? Subcontract?
OPERATIONS RESEARCH TWO Sakala is interested in developing and marketing a new drug. The cost of extensive research to develop the drug would be K100,000. The manager of research programme said that there is 60% chance that the drug will be developed successfully. The market potential is assessed as follows with present value of profit: Market conditions Probability Present value of profits (K) Large market potential 0.1 500,000 Moderate market potential 0.6 220,000 Low market potential 0.3 80,000 The present value figures do not include the cost of research. While Mr. Sakala was considering this proposal, another similar proposal came up which also required the investment of K100,000 .The present value of profit for the second proposal wasK120,000. The return on the investment in the second proposal is almost certain. Draw a decision tree for Mr. Sakala indicating all choices and events What decision Mr. Sakala should take regarding the…
All patients admitted to a particular hospital can be released on the same day or kept overnight forobservation. In a sample of 2550 patients, 1020 were kept overnight for observationa) What is the point estimate ?̂for the proportion of all patients kept overnight forobservation? [1]b) Construct a 99% confidence interval for the proportion of all patients kept overnight forobservation.
31. among the following variances. which of them does not need a corrective action? a. 200,000 b. 50,000 c. -750,000 d. 0
Using multiple regression, you have identified P12,000 of unit level costs for 3,000 units, P1,000 of product level costs for 40 products, and P3,500 of customer-level costs for ten customers. The cost of Job 002 which used 800 unit level activities, 4 product level activities, and one customer-level activities amounts to * A. P3,650 B. P3,250 C. P3,050 D. P2,950
The final stage on a production line for a repairableproduct comprises an old final test station withaccompanying analysis and repair stations.First Time Yield (FTY) is 0.720. To improve quality the old test station is replaced by anew model with higher performance.Using the production line final stage parameter values inTable QB1, on the next page, calculate thechange in cycle time Original final test time 15.0 minOriginal final test effectiveness 0.900New final test time 14.9 minNew final test effectiveness 0.930Analysis time 60.0 minRepair time 15.0 minTest station cost $100,000Analysis station cost $200,000Repair station cost $150,000Test cost $160 per hour per stationAnalysis cost $425 per hour per stationRepair cost $128 per hour per stationWarranty cost $250 per warranty claim perdefective product shipped
What is it to say that it can lead to better contact between managers for successful variance analysis?
Macomb Inc. used Excel to run a least-squares regression analysis on the production cost data resulting in the following output: Regression StatisticsMultiple R 0.9834 R Square 0.9596 Observations 30 Coefficients Standard Error T Stat P-ValueIntercept 174,980 61,580 2.84 0.021 Production units (X) 11.53 0.9265 12.44 0.000 What total cost would Macomb predict for a month in which production is 2,000 units? Multiple Choice $174,900 $63,433 $198,040 $23,037
Please help with correct answers! Management Decision Systems (MDS) is a consulting company that specializes in the development of decision support systems. MDS has a four-person team working on a current project with a small company to set up a system that scrapes data from a collection of websites and then automatically generates a report for management on a daily basis. Time (Weeks) Activity Description ImmediatePredecessor Optimistic Most Probable Pessimistic A Report generation 2 9 13 B Web scraping 5 10 12 C Testing A, B 1 1 1 a) Based solely on the critical path, estimate the probability that the project will be complete within 12 weeks. (Round your answer to four decimal places.) b) Using all paths through the project network, estimate the probability that the project will be complete within 12 weeks. (Round your answer to four decimal places.)

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Using the Decision Tree above, determine the Expected Value with Sample Information (EV with SI). 13.20 10.22 O 14.60 12.50 O 7.60