q(ii) a) An engineer must decide how many machines of a certain type to purchase. Eachmachine can process 200 customers per day. One machine will result in a fixed cost ofRM2,500 per day, while two machines will results in a fixed cost of RM4,300 per day.Variable costs will be RM15 per customers, and revenue will be RM55 per customer.Determine the break-even point for each range. If estimated demand is 60 – 110customers per day, how many machines should be purchased?b) Given this payoff as shown in Table Q2:Table Q2State of nature (Payoffin RM thousand)#1#2A12030Alternatives604010110Determine the range of P(1) for which each alternative would be best, treating the payoffsas profits and costs.

Given data: Alternatives #1 #2 A 120 30 B 60 40 C 10 110 To determine the range of p(1)…

b) Given this payoff as shown in Table Q2: Table Q2 State of nature (Payoff in RM thousand) #1 #2 A 120 30 Alternatives B 60 40 10 110 Determine the range of P(1) for which each alternative would be best, treating the payoffs as profits and costs.

b) Given this payoff as shown in Table Q2: Table Q2 State of nature (Payoff in RM thousand) #1 #2 A 120 30 Alternatives B 60 40 10 110 Determine the range of P(1) for which each alternative would be best, treating the payoffs as profits and costs.

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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