The assessment of the probability of a negative event against the aggregate severity of the related loss is called?
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The assessment of the probability of a negative event against the aggregate severity of the related loss is called?
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- CASE STUDY In September 2020, ACME Fabricators advised its staff that their new factory and offices out in semi-rural Angle Vale would be ready for completion by the end of April2022. ACME was a responsible company and liked to keep their premises clean and tidy and their staffhappy. The new premises were developed on a 4.5-hectare site, previously used for graincrops. Consequently, ACME decided that significant landscaping would be required to enhance the amenityof the otherwise bare land. The senior executive group pictured some land contouring with an attractivegreen lawn, and trees and shrubs to soften the impact of otherwise stark commercial buildings. Accordingly,they notionally allocated $232,000 for the project, and developed a tender document that called for the workto be completed by the time they moved to the new premises. They then invited proposals for landscapingand quotes for the work.A company called Arbor Industries submitted an artist's sketch for the ACME evaluation…A company is considering three vendors for purchasing a CRM system: Delphi Inc., CRM International, and Murray Analytics. The costs of the system are expected to depend on the length of time required to implement the system, which depends on such factors as the amount of customization required, integration with legacy systems, resistance to change, and so on. Each vendor has different expertise in handling these things, which affect the cost. The costs (in millions of $) are shown below for short, medium, and long implementation durations. Use the Excel template Decision Analysisto identify what vendor to select. Decision Alternative Short Medium Long Delphi Inc. $4.00 $4.80 $8.40 CRM International $5.00 $5.75 $7.15 Murray Analytics $4.25 $5.90 $6.30 Fill in the table below for maximum and minimum costs under each alternative. Carry out an analysis considering costs as negative numbers. Round your answers to the nearest cent. Decision Alternative Maximum Minimum…Read the case study of your scenario and write the answer of the following questions Consider the following process for the admission of graduate students at a university In order to apply for admission, students first fill in an online form. Online applications are recorded in an information system to which all staff members involved in the admissions process have access to. After a student has submitted the online form, a PDF document is generated and the student is requested to download it, sign i and send it by post together. with the required documents, which include: • Certified copies of the previous degree and academic transcripts. • Results of the English language test. • Curriculum vitae. When these documents are received by the admissions office, an officer checks the completeness of the documents. If any document is missing, an e-mail is sent to the student. The student has to send the missing documents by post. Assuming the application is complete, the admissions office…
- Samantha’s Group of Companies is deciding if it should design an advertising system for use on its website. The first option is to skip out on designing, with no net costs or gains. The second option is System A, which would result in additional sales of either $25,000 under good conditions or -$15,000 under bad conditions. The final choice is System B, which would increase sales -$5,000 under both good and bad conditions. Note that it costs $25,000 to develop a system. Assume that good conditions are TWICE as likely as the bad conditions. (Hint: twice as likely means a ratio of 2:1). Outline the ultimate objective for the use of decision trees in product design. How is this objective accomplished? Draw the appropriate decision tree for the above problem.Who should be involved in evaluation of the process that was followed to identify and mange risks and what is evaluation of the process intended to achieve?In Kenya, each County Government is required to complete a County Integrated Development Plan (CIDP) at the start of each 5-year cycle. Discuss the justification for monitoring and evaluation of the CIDP.
- With major renovation, the company’s payoff from a favorable market is $100,000, from an unfavorable market, $ -90,000. Minor renovation and favorable market has a payoff of $40,000 and an unfavorable market, $-20,000. Not developing the new product line effectively has $0 payoff. What is the expected value of doing MAJOR RENOVATION?Please read the case carefully and answer the questions that follow:Case StudyDaniel Asante is the manager of a small business called The Copy Center, which is located near a largeuniversity. The Copy Center employs about 18 people, most of whom work part-time while going to schoolfull-time. The store caters to the university community by specializing in course packs, but it also providesdesktop publishing and standard copying services. It has three large, state-of-the-art copy machines and severalcomputer workstations.There are two other national chain copy stores in the immediate vicinity of The Copy Center, yet this store doesmore business than both of the other stores combined. A major factor contributing to the success of this store isDaniel’s leadership style.One of the things that stand out about Daniel is the way he works with his part-time staff. Most of them arestudents, who have to schedule their work hours around their class schedules, and Daniel has a reputation ofbeing…- Once answered correctly will UPVOTE!!
- Howard Weiss, Inc., is considering building a sensitive new radiation scanning device. His managers believe that there is aprobability of .35 that the ATR Co. will come out with a competitive product. If Weiss adds an assembly line for the product and ATR Co. does not follow with a competitive product, Weiss's expected profit is $40,000 ; if Weiss adds an assembly line and ATR follows suit, Weiss still expects $20,000 profit. If Weiss adds a new plant addition and ATR does not produce a competitive product, Weiss expects a profit of $600,000 ; if ATR does compete for this market, Weiss expects a loss of $120,000.Part 2a) Expected value for the option = $ b)Expected value for the build new plant option = c) The alternative that provides Weiss the…Write a report to FAA management that describes the primary cause of the problems, a detailed plan to solve them, shows how the plan solves the problems, and describe any other benefits it will provide.Main Street Cinema invited three firms to bid on its daily janitorial services contract, and then scored those bids (also known as 'tenders') based on quality, reliability/risk and price (using a 100 point scale in each case). The results are listed here: Tender Offer from... Quality Score Reliability/ Risk Price Score Score Dawson Commercial 80 80 90 Cleaning Services Fulton Maintenance 90 70 100 and Facilities Service SteadyBrite Contract 85 85 85 Cleaning Assume that quality and price are equally important to Main Street Cinema. However, the issue of reliability/risk is twice as important to Main Street Cinema then either quality or price. Which janitorial service supplier does linear averaging suggest? O A. Dawson Commercial Cleaning Services and Dawson Commercial Cleaning Services O B. Dawson Commercial Cleaning Services C. Dawson Commercial Cleaning Services O D. SteadyBrite Contract Cleaning E. Fulton Maintenance and Facilities Service and SteadyBrite Contract Cleaning
