2. A city is holding an annual marathon event and wants to produce t-shits. Alfonso was able toobtain previous years' demand and probability data as given in below table. The selling price is$10, cost is $5, and the salvage value is $1. Calculate all payoff numbers in the table and profit.Show work. How many shirts should they prepare?Prepare1000Prepare2000Prepare3000Demand=1000| Demand=2000 Demand=300030%35%35%ProfitI

sales volume =min(volume prepared, demand)egrow1, column 2sales volume = min(1000,2000)=1000 demand…

Answered: 2. A city is holding an annual marathon…

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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Risk Aversion; Strategy John Holt is the production supervisor for ITEXX, a manufacturer of plastic parts with customers in the automobile and consumer products industries. On aTuesday morning, one of ITEXX’s sales managers asks John to reschedule his manufacturingjobs for the rest of the week to accommodate a special order from a new customer. The catchis that getting the customer requires fast turnaround on the order and means not only delayingthe current production schedule, but also running the production equipment all three shifts forthe remainder of the week. This will make it impossible to complete the regularly scheduledmaintenance on the equipment that John has planned for midweek. The sales manager is keen ongetting the new customer, which could mean an important increase in overall sales and output atthe plant. However, John is worried not only about the delay of the current jobs, but the chancethat the delay in maintenance will cause one of the machines to fail, which would…
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