The operations manager for a water taxi company wants to decide whether to purchase a small, medium, or large new boat for the company. The manager estimates that the annual profits (in thousands of dollars) will vary depending upon whether passengerdemand is low, moderate, or high, as shown in the following table.O O O OO smallO mediumO largeBoatOnoneSmallMediumLargeProbabilityLow Medium High514120Demand0.35980490.3If the company uses the expected value approach, which size boat will it decide to purchase?72901210.4

Answered: The operations manager for a water taxi…

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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Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: Year -1 2 Registrations (000) 5.0 5.0 Year Forecast 4 4.3 This exercise contains only parts a and b. a) Using a 3-year moving average, the forecasted registrations (in thousands) for years 4 through 12 are (round your responses to one decimal place): 5 4.6 4 3 3.0 5 6 6.6 7 8 4 5 6 9 10 6.0 11.0 9.0 7.0 9.0 13.0 16.0 6 7 8.7 8 9 7 9 8.3 b) Using a 3-year weighted moving average in which the registrations in the most recent year are given a weight of 2, and registrations in the other 2 years are each given a weight of 1, the forecasted registrations (in thousands) for years 4 through 12 are (round your responses to one decimal place): Year Forecast 8 10 9.6 9 11 12.6 10 12 15.3 11 11 17.0 12
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forgiven product demand the time series trying equation is 53.3+2.1 X what is your forecast demand for period six?
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