QUESTIONS(Using the same problem) A vendor for the local ballpark food stand is questioning whether to stock his concession with a large or smallinventory. He believes that it will depend upon the size of the crowd. He has developed a payoff matrix for the various alternatives (stockingdecision) and states of nature (size of crowd). What is the Expected Monetary Value (EMV)?AlternativesLarge InventorySmall InventoryProbabilityOA) $68,400O B)-$20,000O C) $10,000O D) $51,500O E) $78,400LargeCrowd$220,000$90,000.20PROFIT ($)AverageCrowd$50,000$70,000.50SmallCrowd-$2,000-$5,000.30

Expected monetary value (EMV) is a decision-making technique used to determine the average value of…

Answered: (Using the same problem) A vendor for…

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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Answer 12.8
Does variation in demand matter? What is its respective implications? (High/low)
Prince Electronics, a manufacturer of consumer electronic goods, has five distribution centers in different regions of the country. For one of its products, a highspeed modem priced at $370 per unit, the average weekly demand at each distribution center is 65 units. Average shipment size to each distribution center is 450 units, and average lead time for delivery is 2 weeks. Each distribution center carries 2 weeks' supply as safety stock but holds no anticipation inventory. a. On average, how many dollars of pipeline inventory will be in transit to each distribution center? $: (Enter your response as an integer.) b. How much total inventory (cycle, safety, and pipeline) does Prince hold for all five distribution centers? units. (Enter your response as an integer.)
NING SYSTEM (ACADEMIC) tory Management - Spring21 Time left 1:14:19 Alocal Omani retail store finds out the its competition is ordering 50O kgs each order of a coffee brand. Over years the local Omani store has realized that its competition has adopted an economic ordering quantity (EOQ) policy for ordering. Whereas, local Omani store has determined that it take OMR 25 to order and the annual holding cost is 25% of the price of the coffee brand. The price of the coffee brand is OMR 100 per kg. What is the annual demand for this coffee brand? Round up to the nearest integer None is correct Ob. 100,000 150,000 O d. 90,000 125.000 NEXT PAGE US PAGE
A restaurant uses 40 jars of a special sauce each week. The manager is willing to accept no more than a 0.62% risk of stockout. Average lead time is 3 weeks with a standard deviation of 0.5 weeks. Assume the distribution of usage is normal. Determine the ROP. Group of answer choices 470 units 370 units 270 units 170 units
How do I do question 3?
Q2) Groundz Coffee Shop uses 4 kgs of a specialty tea weekly; each kg costs $16. Carrying costs are $1 per kg per week because space is very scarce. It costs the firm $8 to prepare an order. Assume 52 weeks per year. How many kgs of tea should Groundz order at a time? What is total annual cost. How many orders should Groundz place annually. Q2) Groundz Coffee Shop uses 4 kgs of a specialty tea weekly; each kg costs $16. Carrying costs are $1 per kg per week because space is very scarce. It costs the firm $8 to prepare an order. Assume 52 weeks per year. How many kgs of tea should Groundz order at a time? What is total annual cost. How many orders should Groundz place annually.
Give typed full explanation
Geoff Gullo owns a small firm that manufactures “Gullo Sunglasses.” He has the opportunity to sell a particular seasonal model to Land’s Start, a catalog retailer. Geoff offersLand’s Start two purchasing options.• Option 1: Geoff offers to set his price at $65 and agrees to credit Land’s Start $53 foreach unit Land’s Start returns to Geoff at the end of the season (because those unitsdid not sell). Because styles change each year, there is essentially no value in thereturned merchandise.• Option 2: Geoff offers a price of $55 for each unit, but returns are no longer accepted.In this case, Land’s Start throws out unsold units at the end of the season.This season’s demand for this model will be normally distributed with a mean of 200and a standard deviation of 125. Land’s Start will sell those sunglasses for $100 each.Geoff’s unit production cost is $25.a. How much would Land’s Start buy if it chose option 1? b. How much would Land’s Start buy if it chose option 2? c. Which option will…
27) Ali has a restaurant where the customers use a different number of disposable cups each day he is open. Every 30 days, Ali places an order to replenish his cup inventory. It takes 3 days for the order to arrive, at which point it brings the inventory level up to 4000 cups. It costs Ali $30 to have the order processed. Select all statements that apply to Ali's situation: Group of answer choices a) Ali uses a Continuous Inventory System b) d is constant c) Ali uses a Periodic Inventory System d) Ali uses a Fixed-Order-Quantity Inventory System e) Maximum Inventory Level is constant
Amy lives in Papar but works in Kota Kinabalu. After struggling for years with public transport such as mini-buses and the train and receiving many complaints from fellow travelers, she has decided to look into providing several upgraded bus services in and around Kota Kinabalu which would provide more comfort and hygiene. The busses will be modern, air-conditioned and either hybrids or electrical. Amy is using the public transport busses as used in KL as a model. The prices charged to the customer would be somewhat above the current mini-bus prices but Amy believes that many commuters will be more than willing to pay a bit extra for a comfortable and safe alternative. Prepare Porter’s Five Forces for Amy’s planned bus services.
1) A premier service outlet is opened 7 days a week, every day of the year. 40 bottles of their best engine oil is sold per day, with a standard deviation of 9.15, whilst each bottle of oil costs $15. The Outlet does a stock check every Monday when a supply sales representative arrives. Considering that the owner of the outlet wants a 99.5% service probability and lead time delivery of 3 days, how much bottles of oil should the outlet order, if presently there are 55 bottles of oil in stock

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