Northeastern Insurance Company is considering opening an office in the US The two cites under consideration are Philadelphia and New York. The factor ratings (higher scores are better) for the two cities aregiven in the following tableFactorCustomer convenienceBank accessibilityComputer supportRental costsLabor costsTaxesBased on the given information, the best location for Northeastern Insurance Company to open the office isWeight025.0200.200.150.100.10Philadelphia654585905000New York759080505045with a total weighted score of Enter your response rounded to two decimal places)

A decision-making criterion known as the Total Weighted Score (TWS) method is employed in many…

Answered: Northeastern Insurance Company is…

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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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?
Can someone help me to fully solve the following problem showing all work. Thank you
Given is a decision payoff table. Alternatives Low Future Demand Moderate High 91 130 102 81 Small Facility 111 Medium Facility 51 Large Facility -12 124 126 a) The best decision under uncertainty using MAXIMAX is to select Blank 1 facility b) The best decision under uncertainty using MAXIMIN is to select Blank 2 facility c) The best decision under uncertainty using LAPLACE/EQUALITY LIKELY is to select Blank 3 facility d) If the probabilities for Future Demand when it is Low = 0.35, Moderate = 0.30, and High = 0.35, the expected monetary value (EMV) for the large facility Blank 4. e) If the probabilities for Future Demand when it is Low = 0.35, Moderate = 0.30, and High = 0.35, the best decision under risk is to select Blank 5 facility.
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?
If a firm’s resources and capabilities are costly to imitate because imitating firms may not understand the relationship between the resources and capabilities controlled by a firm and that firm’s competitive advantage, this competitive advantage is said to be protected from imitation by
In location planning, environmental regulations, cost and availability of utilities, and taxes are: Question 15Answer A. regional/community factors. B. irrelevant. C. site-related factors. D. global factors. E. country factors.
A supply chain manager faced with choosing among four possible locations has assessed each location according to the following criteria, where the weights reflect the importance of the criteria. Location Total Points 1 2 3 4 -Select- Criteria Raw material availability Infrastructure Transportation costs is the best location and -Select- Labor relations Quality of life Weight 0.09 0.08 0.35 0.11 0.37 Using this information, determine the best and the worst location. Round your answers to two decimal places. 1 P G VG OK OK is the worst location. Location 2 OK G G VG VG 3 G VG OK P P VG = Very good 5 pts; G = Good 4 pts; OK = Acceptable 3 pts ; P = Poor 1 pt. 4 G OK VG P OK
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Location Score Factor (100 points each) Weight A B C Convenience 0.15 87 92 84 Parking facilities 0.20 73 83 93 Display area 0.18 90 89 96 Shopper traffic 0.27 90 90 93 Operating costs 0.10 85 89 88 Neighborhood 0.10 95 87 94 1.00 Click here for the Excel Data File a. Using the above factor ratings, calculate the composite score for each location. (Do not round Intermediate calculations. Round your final answers to 2 decimal places.) Location A Composite Score B C b. Determine which location alternative (A, B, or C) should be chosen on the basis of maximum composite score. Oc OB OA 13

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