McDonald's is about to open a new store. Three locations are under consideration, with possibleoutcomes (depending on demand) as shown in the table to the right.smallmediumlargeLow4520-20DemandModerate606550Answer the following 4 (four) questions.Using the Laplace criterion, which location is best?Using the minimax regret criterion, which location is best?Using the maximin criterion, which location is best?Using the maximax criterion, which location is best?High75100150A. largeB. smallC. small or medium (both are equivalent)D. mediumlarge (both are equivalent)E. medium분

The Laplace Criterion of Decision Making is a rule that is used to determine the best course of…

Answered: Answer the following 4 (four)…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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

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Hillary’s Flight Operations offers maintenance and repair services for business jets located in Atlanta. They are considering whether they should expand their operations. Hillary has decided that they have a number of options—four to be precise. They can keep their current facilities; they can modify their facilities to make them more efficient; they can expand their current facility; or they can rent additional space. The decision as to which option they should select is predicated upon the estimation of the direction of the economy for the next four years. Hillary’s Flight Operations developed the following decision matrix. What option should Hillary’s Flight Operations make based on Maximax criterion? Future Air Traffic Alternatives Down Same Up Keep As Is ($40,000) $70,000 $100,000 Remodel ($60,000) $65,000 $200,000 Expansion ($150,000) $50,000 $400,000 Rent ($50,000) $60,000 $80,000 Group of answer choices
Explain the a ssumptions behind the center-of-gravity method. How can the model be used in a service facility location?
A food manufacturer wants to locate a warehouse to serve its major customers. The customers, annual volume and the X and Y coordinates are shown in the table below. Customer Annual Volume X Coordinate Y Coordinate Judy Inc 25 3 7 Zac Supermarket 13 5 2 Harry Inc 6 8 4 Sky Productions 4 1 5 Using the centre of gravity location technique, determine the location coordinates that will minimize the transportation costs for their family of products.
Suppose a business owner has a choice of 5 locations in which to establish her business. She decides to rank each locations according to certain criteria, such as price of the store and parking facilities. How many different ways can she rank the 5 location?
b. An operations manager has narrowed down the search for a new King Kola plant to three locations. Fixed and variable costs follow. Location Fixed Cost Variable Cost A $100,000 $10 B $150,000 $7 C $200,000 $5 600 Annual 500 Cost ($000) 400 300 200 100 6 8 10 14 16 18 20 0 (000s of units) i. Plot the total cost curves in the chart provided above and identify the range over which each location would be best. ii. Use break-even analysis to calculate exactly the break-even quantity that defines each range.
Brian Trump has obtained fixed- and variable-cost information for four potential sites for his professional wrestling school and summarized it in tabular form below. All values are in dollars. Site Fixed Cost Variable Cost A 10,000 24 B 12,000 20 C 14,000 18 D 16,000 17 Brian plans to charge the same amount for tuition regardless of where he decides to establish his school. If he believes that 700 students will matriculate each year, which site will result in the lowest total cost?
A manager received an analysis of several cities being considered for a new office complex. The data (10 points maximum) are as follows: Factor Business services Community services Real estate cost Construction costs Cost of living Taxes Transportation A с Thus, Location Score A A B с Thus, 17 17 17 8 6 4 3 2 8 9 B 6 6 Click here for the Excel Data File a. If the manager weights the factors equally, how would the locations stack up in terms of their composite factor rating scores? 8 7 7 19 19 19 5 7 is/are the best. C 6 7 7 6 8 b. If business services and construction costs are given weights that are double the weights of the other factors, how would the locations stack up? is/are best and 4 8 is/are least desirable.
Q2k Audi is considering three locations A, B and C for the production of its new model SUV XL500. The objective is to choose the location with the lowest costs. The costs are measured as annual fixed costs plus the variable costs of the product. The following data has been collected for the three locations.< Region Fixed costs per year A B C 10 000 000 20 000 000 25 000 000 Variable cost per unit 1. at what level of production will C be the best choice? 2. at what production rate will A be the best choice? 3. at what level of production will B be the best choice? 2500 2000< 1000< The company's projected annual production in the new plant is 0-60 000 units.< Ask
In deciding on where to locate their next grocery store, Publix narrowed it down to 3 locations (St. Augustine, the Airport area, or the Westside). They are using 2 criteria to make their decisions costs (with a weight of 70%) and customer base (with a weight of 30%). Each item was scored on a 10-point scale with 10 being the highest. St. Augustine rated a score of 4 for cost and 10 for customer base; the Airport area rated a score of 6 for cost and 5 for the customer base, and the Westside rated a score of 8 for cost and 2 for the customer base. __________ 2a. What is the computed mean score for each of the 3 locations? __________ 2b. Which location should be chosen based on the highest score?
3. Consolidated Refineries, headquartered in Houston, must decide among three sites for the construction of a new oil-processing center. The firm has selected the six factors listed below as a basis for evaluation and has assigned rating weights from 1 to 5 on each factor: Factor 1 2 3 4 5 6 Factor Name Proximity to port facilities Power source availability and cost Workforce attitude and cost Distance from Houston Community desirability Equipment suppliers in area Rating Weight 5 3 4 2 2 3 Management has rated each location for each factor on a 1- to 100-point basis. Factor Location A Location B Location C 1 100 80 80 2 80 70 100 3 30 60 70 4 10 80 60 5 90 60 80 6 50 60 90 a. Which site will be recommended based on total weighted scores? b. If location B's score for Proximity to port facilities was reset at 90, how would the result change? c. What score would location B need on Proximity to port facilities to change its ranking?
solve without excel (show work)
Use the photo attached to answer the following question, 1.Using the centre of gravity location technique, determine the best location that will minimize total travel distance. SHOW WORKING

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Answer the following 4 (four) questions. Using the Laplace criterion, which location is best? Using the minimax regret criterion, which location is best? Using the maximin criterion, which location is best? Using the maximax criterion, which location is best? I