If Jeremy who is the VP for the operations, proceeds with their existing prototype (which is option a), the firm can then expect sales to be 120,000 units at $550 each. And with a probability of 0.52 and a 0.48 probability of 65,000 at $550. we However, he uses his value analysis team (option b), the firm expects sales of 75,000 units at $770, with a probability of 0.78 and a 0.22 probability of 65,000 units at $770. Value engineering, at a cost of $100,000, is only used in option b. Which option for this has the highest expected monetary value (EMV)? The EMV for option a is $? The EMV for option b is $? Which has the highest expected monetary value. A or B?
Q: From your experience, what have effective managers done to bring out the best in you and other…
A: **a. Providing Clear Direction and Communication**Effective managers ensure that employees know what…
Q: BUS-660 Topic 4: Intege... W Midterm Exam - BUS-66... webassign.net b Answered: The binding c... × W…
A: Explanation:Average Annual Returns Calculation (Sum of yearly returns ÷ 5 years):Foreign Stock:…
Q: For the questions below, select an organization with which you are familiar. Cigna Accredo Pharmacy.…
A: It can be consequently hypothesized that the performance management system realized in Network…
Q: 6. Cynthia Knott’s seafood restaurant buys fresh Nova Scotia lobster for $4.5 per pound and sells…
A: Identify Costs:• Cost Price: $4.5 per pound• Selling Price: $9 per pound• Salvage Price: $1 per…
Q: There are five questions in this section. Answer all questions. 1. Explain four (4) methods of…
A: Traditional media advertising is one of the most common methods of external advertising. This…
Q: A coworker suggests that the company where you both work would be much more effective if there were…
A: This article contends that, contrary to the belief that eradicating organizational politics would…
Q: The life expectancy in the United States is 75 with a standard deviation of 7 years. A random sample…
A: Step 1: Given dataPopulation mean (μ) = 75Population standard deviation ((σ) = 7Sample size (n) =…
Q: Compare and contrast a badly designed job vs. a well-designed job.
A: **1. Clarity of Roles and Responsibilities** - **Badly Designed Job**: Lacks clear expectations or…
Q: This is for my supply chain and logistics class. Please use deseasonal method using excel for the…
A: The provided response outlines a step-by-step approach to deseasonalizing iPad Pro sales data using…
Q: An investigation of career development opportunities and job satisfaction at
A: This study examined the connection between job satisfaction at and career advancement prospects.…
Q: IM.84 An outdoor equipment manufacturer sells a rugged water bottle to complement its product line.…
A: The EOQ formula is given by:2*D*SHWhere:D is the annual demand (9,200 units)S is the ordering cost…
Q: Use the internet to obtain crash safety ratings for passenger vehicles. Then, answer…
A: **a. Vehicles with the Highest and Lowest Ratings** - **Highest Ratings (2024 Models):** Vehicles…
Q: Please help me with this essay
A: Cover PageThe cover page should be clear and concise, setting up the professional tone of your…
Q: Draw a DFD diagram using the following : Step 1: Diagramming the DFD: External Entities: Vendor:…
A: Explanation of the DFDThe provided DFD outlines the flow of data in a purchase order system. It…
Q: Sammy's Soldier, manufactures paints. Its costing system utilizes two cost categories, direct…
A: The given data are as follows:Work in process, beginning inventory: 200 unitsUnits started during…
Q: discuss team development stages
A: Team development stages are the phases that a team goes through from its inception to its…
Q: Note: In chapter 9, section 9.4 of the Stevenson text, the costs of quality are covered; chapter 9…
A:
Q: What are 4 key points that are interesting about this video…
A: In case you are not satisfied with what I provided above (or you just want to get some more ideas in…
Q: How do I enter the information from the first attachment into Solver in Excel to solve as a Linear…
A: First, you need to set up your spreadsheet in Excel. Create a table with the decision variables…
Q: PURPOSE This assignment aims to develop the learners' ability to write a literature review on a…
A: Start by conducting a comprehensive literature review on the topic of 'The impact of remote work on…
Q: I need do fast typing clear urjent no chatgpt used i will give 5 upvotes full explanation with…
A: Step 1:
Q: By signaling their willingness to share information about their interests, but not their BATNA, a…
A: The principle of reciprocity is a social norm where if someone does something for you, you then feel…
Q: I need do fast typing clear urjent no chatgpt used i will give 5 upvotes pls full explain
A: Given:Let f(x) be a function of period 2π, where f(x)=x2 on the interval 0<x<2π.(a) Sketch 2…
Q: Year 1 2 3 4 5 6 7 8 9 10 11 12 Costs (BWP million) +100 110 120…
A: Step-by-step Calculation of Profitability Index (PI):Step 1: Organizing DataFirst, we need to…
Q: Which is the major OD technique that is used for increasing the communication, cooperation, and…
A: The question is asking for the major Organizational Development (OD) technique that is primarily…
Q: The systems design and development process turns new technology into new and/or updated…
A: These technologies are disruptive because they transform industries, alter societal norms, and fully…
Q: Discuss how training and development programs can be best presented to ultimately change the…
A: Training and development programs are crucial in any organization as they help in enhancing the…
Q: Discuss how the article aligns with the concept: 1. The development of Legislative Health Policy 2.…
A: The article discusses the allocation of $266 million by the US government from the American Rescue…
Q: Develop an optimization model whose solution would reveal which plants to build and the optimal…
A:
Q: You have to inform employees of a local facility that the location is closing and/or relocating. You…
A: Question 1Understanding the Impact and Planning the AnnouncementBefore delivering the news, the…
Q: in the MABE: learning to be multinational case report, what is the reccomended course of action?
A: MABE: Learning to Be Multinational - Recommended Course of Action IntroductionMabe, a Mexican home…
Q: The City Commission of Nashville has decided to build a botanical garden and picnic area in the…
A:
Q: Intuition is both an emotional experience and a nonconscious analytic process. One problem, however,…
A: Approach to solving the question: utilized online credible sources Detailed explanation: In…
Q: Emotional intelligence is defined as the ability to understand and manage your emotions, as well as…
A: True. Emotional intelligence indeed involves the ability to understand and manage one's own…
Q: Vvvvvvvvv
A: Option a: This option is correct because competency-based training focuses on developing specific…
Q: What benefits can negotiators get from using the strategy of multiple equivalent simultaneous offers…
A: Multiple Equivalent Simultaneous Offers (MESOs) is a negotiation strategy where a negotiator…
Q: The advantage we get from business may outweigh the threats of hackers. How do you see this balance,…
A: The balance between the advantages of business operations and the threats of hackers is a delicate…
Q: Scenario You have been given a task to create a demand forecast for the second year of sales of a…
A: To answer this question thoroughly, I will help you:Calculate the forecast for Year 2 using the…
Q: Menu Item Sales and Cost Data Taco Salad: Number Sold: 127; Item Cost: $0.71; Selling Price: $3.25…
A: Menu Analysis Worksheet Menu Analysis Worksheet - Detailed BreakdownThis analysis evaluates the…
Q: Answer all parts to question 4 and show all working
A: Step 1:Step 2: Step 3: Step 4:
Q: Need a monitoring and response plan for operation of tobaco manufacturing
A: MONITORING PLAN Define Key Performance Indicators (KPIs):Product Quality: Ensure the tobacco leaves…
Q: example of of control chart chart tracking patient comprehension rates over time.
A: A control chart is a statistical tool used in quality control to monitor and control a process over…
Q: QUESTION 7 Assume you have noted the following prices for books and the number of pages that each…
A: a. Develop a Least Squares Estimated Regression LineThe least squares estimated regression line…
Q: A call center facility is to house 175 female and 175 male employees. Using a 50% allowance for…
A: Step 1: Determine Number of Fixtures NeededFor large office buildings or call centers, the number of…
Q: In a South African manufacturing plant, a large automotive company noticed a decline in…
A: Ergonomics is the scientific discipline concerned with the understanding of interactions among…
Q: Answer the question in the attached photo and draw the network that interprets the data
A: Let's break this problem into detailed steps to ensure a complete understanding of the solution. We…
Q: A company is designing a product layout for a new product. It plans to use this production line…
A: Question 1: Draw the network described in the table. (provide a picture if possible) The network…
Q: Can you pull quotes from credible sources that analyze the fast fashion industry through a business…
A: "Fast fashion offers a net positive impact by allowing consumers to conform to ever-changing fashion…
Q: The University of the West Indies GLOBAL CAMPUS MGMT 2026 Production and Operations Management -…
A: The weighted moving average forecasting method is a variant of the moving average method. In this…
Q: Analyse the impact of integrating EDI (Electronic Data Interchange) with API (Application…
A: 1. Approach to Solving the QuestionThe approach to solving the question involves a step-by-step…
If Jeremy who is the VP for the operations, proceeds with their existing prototype (which is option a), the firm can then expect sales to be 120,000 units at $550 each. And with a probability of 0.52 and a 0.48 probability of 65,000 at $550.
we
However, he uses his value analysis team (option b), the firm expects sales of 75,000 units at $770, with a probability of 0.78 and a 0.22 probability of 65,000 units at $770.
Value engineering, at a cost of $100,000, is only used in option b. Which option for this has the highest expected monetary value (EMV)?
The EMV for option a is $?
The EMV for option b is $?
Which has the highest expected monetary value. A or B?
Step by step
Solved in 2 steps
- At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 = average; 4 = bad. The weekly revenue earned by a machine in state 1, 2, 3, or 4 is 100, 90, 50, or 10, respectively. After observing the condition of the machine at the beginning of the week, the company has the option, for a cost of 200, of instantaneously replacing the machine with an excellent machine. The quality of the machine deteriorates over time, as shown in the file P10 41.xlsx. Four maintenance policies are under consideration: Policy 1: Never replace a machine. Policy 2: Immediately replace a bad machine. Policy 3: Immediately replace a bad or average machine. Policy 4: Immediately replace a bad, average, or good machine. Simulate each of these policies for 50 weeks (using at least 250 iterations each) to determine the policy that maximizes expected weekly profit. Assume that the machine at the beginning of week 1 is excellent.Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?
- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. Ethical decisions that affect a buyers ethical perspective usually involve the organizational environment, cultural environment, personal environment, and industry environment. Analyze this scenario using these four variables.Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?
- It costs a pharmaceutical company 75,000 to produce a 1000-pound batch of a drug. The average yield from a batch is unknown but the best case is 90% yield (that is, 900 pounds of good drug will be produced), the most likely case is 85% yield, and the worst case is 70% yield. The annual demand for the drug is unknown, with the best case being 20,000 pounds, the most likely case 17,500 pounds, and the worst case 10,000 pounds. The drug sells for 125 per pound and leftover amounts of the drug can be sold for 30 per pound. To maximize annual expected profit, how many batches of the drug should the company produce? You can assume that it will produce the batches only once, before demand for the drug is known.The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.
