Which of the following statements is NOT true? Your answer: O Primal Simplex Algorithm starts feasible but nonoptimal O Dual Simplex Algorithm starts optimal but infeasible O Generalized Simplex Algorithm starts optimal and infeasible
Q: If you are managing a large project, would you prefer Gantt charts or PERT/CPM charts to represent…
A: Two typical project management visualization tools are PERT and Gantt charts. Both of these diagrams…
Q: Use a diagram to show and explain the concept of supply chain management
A: Supply Chain Management A supply chain is a system of retailers, wholesalers, transporters,…
Q: 1 Describe and discuss mechanistic and organic organizational models
A: Organization models are the tools that are used to define and identify the relationships between…
Q: Company Z is contemplating a product development program encompassing 6 major projects. The company…
A: Here, there are six projects, let's say project 1 would be selected then, Project 1=1, If project 1…
Q: Explain the consequences of poor location decisions for a business and why it is important to…
A: There are many different factors to consider when opening a new business, including your target…
Q: Discuss the differences in effective communication methods, if any, between communicating…
A: A project is described as a sequence of activities that must be achieved to attain a particular…
Q: + 1. Product Yield. Calculate the yield (%) of white cheese that can be produced from the given…
A: Yield in relation to manufacturing means output. It is calculated with the help of following formula…
Q: _______ A balanced scorecard for measuring company performance a . entails putting equal…
A: In operations excellence and six sigma process improvement efforts, the balanced scorecard is…
Q: ption and the facto
A: Gross Absorption Net absorption takes unoccupied space into account when calculating total square…
Q: What are the sources of research problems?
A: A research problem can be broadly defined as an area of difficulty which can be improved or…
Q: 25. Used for computing production capacity, production quotas, wage incentives, costing, etc.. O…
A: Companies need to determine a standard based on which they can set benchmark time, wages for their…
Q: Answer all the following questions based on Table 2 (a) Feasibility studies for a project is an…
A: A feasibility study is an analysis used in measuring the ability and likelihood to complete a…
Q: What strategy will you use as Project Manager to ensure that coordination is smooth and seamless?
A: Project coordination is based on the day-to-day work needed to maintain an initiative on the path.…
Q: State the factors that must be considered if U.S. firms are going to increase productivity.
A: What Is Productivity? How many resources and labor hours are required to produce a specific amount…
Q: is consistency in care and services could help in improving processes?
A: Process improvement can be stated as the organized or systematic process of problem-solving…
Q: Material Requirement Planning (MRP) I. Introduction (minimum of 6 sentences) II. Body (minimum of 10…
A: Materials Requirement Planning is the process of buying materials, supplies and components from…
Q: Formulate an integer programming model that could be used to find the minimum number of stores to…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: Megan, the principal at ABC Elementary, was reviewing the performance of all of the teachers on…
A: e) directing
Q: Supply chains represent both local and global companies working together. What are some of the risks…
A: A supply chain consists of businesses that work together to get their products or services from…
Q: Directly related to the production and distribution of a firm's products or services Primary…
A: The supply chain of the specific product begins with raw material input, pursued by production,…
Q: IMMEDIATE ACTIVITY PREDECESSORS D a) Choose the corect network to rep OA 08 b) Which activities are…
A: Find the Given details below: Activity ImmediatePredecessors Time(Weeks) A - 4 B - 3 C A 3…
Q: A company uses approx. 600 units a day & this tends not to vary by more than a few units either way.…
A: Daily demand d = 600 units Demand Standard deviation σd = 0 (As the demand doe not vary by more than…
Q: What is the relationship between inventory management and the supply chain?
A: Connection between inventory management and the supply chain The supply chain is a process that all…
Q: Draw a network representation of the project (nodes = activities, arrows = precedence constraints).…
A: A project schedule network diagram shows the sequence of the task that is performed to complete a…
Q: 4.In engineering management, what is more important? To be well-educated or well-mannered?
A: Engineering management is the combination of technical knowledge and practical knowledge of a…
Q: What is the difference between Computer-aided manufacturing (CAM) and computer-integrated…
A: Production management is described as the approach to managing various business activities that…
Q: Two senior managers (Brad and Dave) at Alpine Inc. are disagreeing about the managerial skills…
A: In today’s competitive industry world Project management & product management are extremely…
Q: 1. A state has three power plants with generating capacities of 30, 40 and 25 million KWH that…
A: Note: - As we can answer only up to three subparts we will answer the first three subparts(a, b, and…
Q: a) Optimal number of Orders per year, No; b) Optimal number of Days' supply per order, Nd; c)…
A: The EOQ formula helps companies determine how many units of a product should be ordered from…
Q: Identify and briefly describe six system approach factors.
A: Systems approach factors are the things you do in your business that make you more efficient,…
Q: Who are the stakeholders that your Team shall coordinate with during Plan preparation?
A: Individuals who engage in decision-making that impacts their job have a greater sense of ownership…
Q: 21. The Bayside Art Gallery is considering installing a video camera security system to reduce its…
A: a and b
Q: Question 4 A. Briefly explain how stress and time management can negatively affect customer…
A: Customer satisfaction is the evaluation of customers' happiness after availing a service or product.…
Q: Q.3.1 Gill Enterprises produces a number of consumer items, including a stove. A key component of…
A: Economic Order Quantity is that level of inventory at which Carrying Cost and ordering cost are…
Q: Our team has been tasked with planting 600 trees ( 100 trees per day ) on the plot of land behind…
A: Here, we have a project where, we have been tasked with planting 600 trees and we would plant 100…
Q: TYPEWRITTEN ONLY PLEASE. ILL UPVOTE ONLY IF TYPEWRITTEN, COMPLETE, AND CORRECT. DONT ANSWER IF YOU…
A: In the given first we will calculate the total cost of both the plans and then the plan having the…
Q: Construct the control charts for the mean and the range, using the original 15 samples. t up the…
A: Control charts are also known as process-behavior charts. It is a statistical process that helps in…
Q: Q.2 Answer the following A large international sales organization has collected data on the number c…
A: Given data:
Q: LP Center of Gravity Data Location X Y Cost 1 7 4 13 2 1 14 5 3 9 3 15 4 4 9 24 Total 21 30 57…
A: since coordinate values are possible to be in decimals, we will use GRG non linear method.…
Q: Answer the following items: 2. Recommend the appropriate type/s of warehouse/s that will help H&M…
A: Excess inventory is the inventory that is not yet sold. This is the inventory that might be produced…
Q: Consider the following returns for two investments, A and B, over the past four years: Investment 1:…
A: A standard deviation (aka σ) is indeed a measure of data dispersion in proportion to the mean. They…
Q: In many states, including New York, an operating agreement is required for a limited liability…
A: An operating agreement is nothing but an important document used by the limited liability company…
Q: Customer services performance measures in operational logistics are key, with the aid of practical…
A:
Q: A new start-up company is conducting a SOP meeting in order to "plan ahead" to effectively address…
A: Production net requirement: Excel model: Solution:
Q: Laytime for discharge operations is 08 days 17 hours 20 mins. If the amount used was 06 days 12…
A: Given data is Available time = 8 days 17 hours 20 mins = 8.72221 days Used time = 6 days 12 hours 56…
Q: 88. (a) The 5S concept is a method/tool that is used in the workplace to increase safety and create…
A: There are multiple different questions, as per the guideline, I'm supposed to answer the first…
Q: 7. Perla Santos has decided to purchase a cellular phone, but she is unsure about which rate plan to…
A:
Q: 3. Andy Mendoza makes handcrafted dolls, which he sells at craft fairs. He is considering…
A: Find the Given details below: Given details: Initial Investment 25000 Variable cost 10…
Q: (a) (b) Formulate a mathematical model to maximize Mama Rita's monthly profit. Solve the…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: The HR manager told Fatima that the company pays the total health insurance costs for a family of…
A: The HR administrator said to Fatima that the firm pays the entire health insurance prices for a…
Step by step
Solved in 2 steps
- The model in Example 9.3 has only two market outcomes, good and bad, and two corresponding predictions, good and bad. Modify the decision tree by allowing three outcomes and three predictions: good, fair, and bad. You can change the inputs to the model (monetary values and probabilities) in any reasonable way you like. Then you will also have to modify the Bayes rule calculations. You can decide whether it is easier to modify the existing tree or start from scratch with a new tree.The IRR is the discount rate r that makes a project have an NPV of 0. You can find IRR in Excel with the built-in IRR function, using the syntax =IRR(range of cash flows). However, it can be tricky. In fact, if the IRR is not near 10%, this function might not find an answer, and you would get an error message. Then you must try the syntax =IRR(range of cash flows, guess), where guess" is your best guess for the IRR. It is best to try a range of guesses (say, 90% to 100%). Find the IRR of the project described in Problem 34. 34. Consider a project with the following cash flows: year 1, 400; year 2, 200; year 3, 600; year 4, 900; year 5, 1000; year 6, 250; year 7, 230. Assume a discount rate of 15% per year. a. Find the projects NPV if cash flows occur at the ends of the respective years. b. Find the projects NPV if cash flows occur at the beginnings of the respective years. c. Find the projects NPV if cash flows occur at the middles of the respective years.Software development is an inherently risky and uncertain process. For example, there are many examples of software that couldnt be finished by the scheduled release datebugs still remained and features werent ready. (Many people believe this was the case with Office 2007.) How might you simulate the development of a software product? What random inputs would be required? Which outputs would be of interest? Which measures of the probability distributions of these outputs would be most important?
- 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.)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.You now have 5000. You will toss a fair coin four times. Before each toss you can bet any amount of your money (including none) on the outcome of the toss. If heads comes up, you win the amount you bet. If tails comes up, you lose the amount you bet. Your goal is to reach 15,000. It turns out that you can maximize your chance of reaching 15,000 by betting either the money you have on hand or 15,000 minus the money you have on hand, whichever is smaller. Use simulation to estimate the probability that you will reach your goal with this betting strategy.
- 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.Based on Kelly (1956). You currently have 100. Each week you can invest any amount of money you currently have in a risky investment. With probability 0.4, the amount you invest is tripled (e.g., if you invest 100, you increase your asset position by 300), and, with probability 0.6, the amount you invest is lost. Consider the following investment strategies: Each week, invest 10% of your money. Each week, invest 30% of your money. Each week, invest 50% of your money. Use @RISK to simulate 100 weeks of each strategy 1000 times. Which strategy appears to be best in terms of the maximum growth rate? (In general, if you can multiply your investment by M with probability p and lose your investment with probability q = 1 p, you should invest a fraction [p(M 1) q]/(M 1) of your money each week. This strategy maximizes the expected growth rate of your fortune and is known as the Kelly criterion.) (Hint: If an initial wealth of I dollars grows to F dollars in 100 weeks, the weekly growth rate, labeled r, satisfies F = (I + r)100, so that r = (F/I)1/100 1.)The file P02_41.xlsx contains the cumulative number of bits (in trillions) of DRAM (a type of computer memory) produced and the price per bit (in thousandth of a cent). a. Fit a power curve that can be used to show how price per bit drops with increased production. This relationship is known as the learning curve. b. Suppose the cumulative number of bits doubles. Create a prediction for the price per bit. Does the change in the price per bit depend on the current price?