Practical Management Science
Practical Management Science
6th Edition
ISBN: 9781337671989
Author: WINSTON
Publisher: Cengage
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Chapter 2.5, Problem 5P
Summary Introduction

To change: The model for reflecting the behavior.

Quantity discounts and demand under uncertainty:

Quantity discount is the discount given when the products are ordered in large quantities. A quantity discount is often given by a seller to induce the buyer to purchase large quantities.

Demand uncertainty is the situation when a business is unable to accurately predict the demand for a product or a business.

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3) A startup firm, Pocket International, has come up with a tiny programmable computer, NerdCom Mini Air, that sells for $49.99. The firm estimates that the programmable computers have an expected life that is exponential, with a mean of 24 months. The firm wants to estimate the probability that the NerdCom Mini Air will have a life that ends:   a) after the initial 24 months of service. b) before the 24 months of service is completed. c) not before 48 months of service.   Note: You could work out the problem by hand or use excel; in chapter 4S, section 4S.2 of the Stevenson text, reliability (finding the probability of functioning for a specified length of time) is covered with examples; chapters 4 & 4S Stevenson lecture power point slides 33 to 38 (chapters 4 & 4S lecture: 32.30 mins to 38.56 mins) cover reliability over time with examples.
Discuss how training and development programs can be best presented to ultimately change the behavior of employees, often without their knowledge or awareness.
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