Practical Management Science
5th Edition
ISBN: 9781305250901
Author: Wayne L. Winston, S. Christian Albright
Publisher: Cengage Learning
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Chapter 11.3, Problem 18P
Summary Introduction
To modify: The model and run the simulation.
Introduction: Simulation model is the digital prototype of the physical model that helps to
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The goal of understanding personality in negotiation is to better predict behavior, such as the counterparty's acceptance or rejection of a negotiation offer. One investigation used acoustic and visual cues to predict the likely behavior of a counterparty to a proposal. The best visual cue predictor of the counterparty (55%) was whether they _____.
A. tilted their head
B. had their arms and legs crossed
C. steepled their fingers
D. tapped a pen
Chapter 11 Solutions
Practical Management Science
Ch. 11.2 - If the number of competitors in Example 11.1...Ch. 11.2 - In Example 11.1, the possible profits vary from...Ch. 11.2 - Referring to Example 11.1, if the average bid for...Ch. 11.2 - See how sensitive the results in Example 11.2 are...Ch. 11.2 - In Example 11.2, the gamma distribution was used...Ch. 11.2 - Prob. 6PCh. 11.2 - In Example 11.3, suppose you want to run five...Ch. 11.2 - In Example 11.3, if a batch fails to pass...Ch. 11.3 - Rerun the new car simulation from Example 11.4,...Ch. 11.3 - Rerun the new car simulation from Example 11.4,...
Ch. 11.3 - In the cash balance model from Example 11.5, the...Ch. 11.3 - Prob. 12PCh. 11.3 - Prob. 13PCh. 11.3 - The simulation output from Example 11.6 indicates...Ch. 11.3 - Prob. 15PCh. 11.3 - Referring to the retirement example in Example...Ch. 11.3 - A European put option allows an investor to sell a...Ch. 11.3 - Prob. 18PCh. 11.3 - Prob. 19PCh. 11.3 - Based on Kelly (1956). You currently have 100....Ch. 11.3 - Amanda has 30 years to save for her retirement. At...Ch. 11.3 - In the financial world, there are many types of...Ch. 11.3 - Suppose you currently have a portfolio of three...Ch. 11.3 - If you own a stock, buying a put option on the...Ch. 11.3 - Prob. 25PCh. 11.3 - Prob. 26PCh. 11.3 - Prob. 27PCh. 11.3 - Prob. 28PCh. 11.4 - Prob. 29PCh. 11.4 - Seas Beginning sells clothing by mail order. An...Ch. 11.4 - Based on Babich (1992). Suppose that each week...Ch. 11.4 - The customer loyalty model in Example 11.9 assumes...Ch. 11.4 - Prob. 33PCh. 11.4 - Suppose that GLC earns a 2000 profit each time a...Ch. 11.4 - Prob. 35PCh. 11.5 - A martingale betting strategy works as follows....Ch. 11.5 - The game of Chuck-a-Luck is played as follows: You...Ch. 11.5 - You have 5 and your opponent has 10. You flip a...Ch. 11.5 - Assume a very good NBA team has a 70% chance of...Ch. 11.5 - Consider the following card game. The player and...Ch. 11.5 - Prob. 42PCh. 11 - Prob. 44PCh. 11 - You now have 10,000, all of which is invested in a...Ch. 11 - Prob. 46PCh. 11 - Prob. 47PCh. 11 - Based on Marcus (1990). The Balboa mutual fund has...Ch. 11 - Prob. 50PCh. 11 - Prob. 52PCh. 11 - The annual demand for Prizdol, a prescription drug...Ch. 11 - Prob. 54PCh. 11 - The DC Cisco office is trying to predict the...Ch. 11 - Prob. 56PCh. 11 - Prob. 58PCh. 11 - You are considering a 10-year investment project....Ch. 11 - Prob. 61PCh. 11 - An automobile manufacturer is considering whether...Ch. 11 - Prob. 63PCh. 11 - Prob. 65PCh. 11 - Rework the previous problem for a case in which...Ch. 11 - Prob. 68PCh. 11 - The Tinkan Company produces one-pound cans for the...Ch. 11 - Prob. 70PCh. 11 - In this version of dice blackjack, you toss a...Ch. 11 - Prob. 76PCh. 11 - It is January 1 of year 0, and Merck is trying to...Ch. 11 - Suppose you are an HR (human resources) manager at...Ch. 11 - You are an avid basketball fan, and you would like...Ch. 11 - Suppose you are a financial analyst and your...Ch. 11 - Software development is an inherently risky and...Ch. 11 - Health care is continually in the news. Can (or...
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- Women who ask for what they want in negotiation are less well-liked than women who do not self-advocate. However, nonassertive, other-advocating women suffer a leadership backlash and are regarded as less competent because their behavior is regarded to be _____ and _____. A. high-negative feminine; low-positive masculine B. high-positive feminine; high-positive masculine C. high-negative masculine; low-negative feminine D. low-positive masculine; low-positive femininearrow_forwardThere are five most recognized personality traits that can reliably be measured and predict negotiator behavior in a number of different situations. All of the following are one of those "Big 5" personality traits except _____. A. conscientiousness B. introversion C. agreeableness D. openness to experiencearrow_forwardWith regard to reputation in negotiation, negotiators who use adversarial, stubborn, and ethically questionable behavior often have the effect of _____. A. improving their business relationships B. decreasing their effectiveness as a negotiator C. improving their business relationships D. decreasing their group statusarrow_forward
- When it comes to assertiveness, there is only a modest link between negotiators' self-views and how the counterparty sees them. Many negotiators come away from a negotiation thinking they came on too strong with the counterparty. The _____ refers to the fact that negotiators believe they are coming on too strong with the counterparty, but they actually are not. A. Collective trap illusion B. Attribution error C. Aggressive anchoring bias D. Line-crossing illusionarrow_forwardAs you think about the issue of using chatbots in contract negotiations, consider whether other facets and concepts of negotiations that we have discussed and whether they would be adequately addressed.arrow_forwardWhile I am not a fan of AI as of yet, I do understand the endless possibilities. Based on the research, it is clear that AI has great potential for negotiation (Yang, 2025). Herold et al. (2025) suggested that AI can flag potential risks and liabilities, allowing negotiators to address them and mitigate potential problems proactively. AI can draft new contract templates by examining industry standards and past contracts, and AI technology can help lawyers spot errors and inconsistencies in contract drafts. In relation to risk management, AI can flag possible risks and liabilities, allowing negotiators to proactively address them and lessen potential problems, which can speed up the negotiation process, making the negotiation efficient because AI can industrialize tasks like document review, redlining, and finding potential issues, significantly reducing negotiation time. Lastly, AI can analyze vast amounts of data and identify errors, inconsistencies, and irregularities in…arrow_forward
- What is a main thought on using AI in contract negotiations?arrow_forwardWhat are some people thoughts on using AI in contract negotiations?arrow_forward3. Develop a high-level or summary: a. Risk Management Plan Focus on specific, actionable steps for each risk and mitigation strategy.Provide detailed timelines for procurement, stakeholder engagement, and risk monitoring.Avoid over-simplifying and add more technical details in areas like quality assurance and financial control measures. Add a risk prioritization method and mention how risks will be monitored and reviewed throughout the project lifecycle. Overall, it is well organized andc overs key risks.arrow_forward
- 3. Develop a high-level or summary: Human Resource Management Plan Provide more concrete timelines and actionable steps for human resource management.Include more detailed risk management strategies and link them more explicitly to the overall project plan.Expand on how training and development will be evaluated and tracked.Also, the overall length is good, but some sections could be condensed by eliminating repetition (e.g., you discuss stakeholder communication and engagement in two sections without adding new information).Try not to repeat the same risk management ideas (e.g., resource sharing and stakeholder concerns) in multiple sections without adding value.arrow_forwardBased on the U.S. Department of Transporation's publication on the number of inrternatioal passengers that come through New York airport (JFK) in 2012, how would I estimate the passenger volume for the coming year?arrow_forwardWhat are the role of trends and seasonality based on the Department of Transportation publication of the number of international passengers that come through New York (JFK) in 2012?arrow_forward
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