8 Phillip Witt, president of Witt Input Devices, wishes to create a portfolio of local suppliers for his new line of keyboards.As the suppliers all reside in a location prone to hurricanes, tornadoes, flooding, and earthquakes, Phillip believes thatthe probability in any year of a "super-event" that might shut down all suppliers at the same time at least 2 weeks is3%. Such a total shutdown would cost the company approximately $480,000. He estimates the "unique-event" risk forany of the suppliers to be 5%. Assuming that the marginal cost of managing an additional supplier is $14,800 per year,how many suppliers should Witt Input Devices use? Assume that up to three nearly identical local suppliers areavailable.Find the EMV for alternatives using 1, 2, or 3 suppliers.EMV(1) = $(Enter your response rounded to the nearest whole number.)

Find the Calculation methods below: EMV (One Supplier) = (Shutdown cost * Probability of Super…

Answered: Phillip Witt, president of Witt Input…

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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Ch. 19 Q9
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A.3 Yellowburn University, a not-for-profit higher education organization, has the following mission statement: ‘We aim to deliver excellent tuition in state-of-the-art facilities to help develop socially responsible students and to contribute to global academic research.’ Which TWO of the following would be appropriate objectives to fit in with this mission? To deliver the best possible lessons. Each member of staff is to write two research papers for publication over the next two years. To increase car parking space at the university by 10% in the next 12 months to improve access. To get 15% of all students to receive first class honors degrees each year. To ensure 100% attendance from all students for every lecture.

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