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MindTap Business Statistics for Ragsdale's Spreadsheet Modeling & Decision Analysis, 8th Edition, [Instant Access], 2 terms (12 months)
8th Edition
ISBN: 9781337274876
Author: Cliff Ragsdale
Publisher: Cengage Learning US
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Lawrence is a Chief Financial Officer of an E-Sports company. One of his main duties is to take care of financial reporting. He is concerned about how to improve the financial performance of the whole company. He is considering engaging a consultancy firm to develop Robotic Process Automation for accounting functions. He hopes that he can help the company to reduce the staff cost of the accounting function by laying off one-third of the accounting staff once the Robotic Process Automation is completed. Lawrence expects to lay off those staff who got more over-time salary before.Identify the ethical issue(s), if any, involved in this case.Who are the stakeholders in this situation? How are they affected?What are Lawrence’s alternatives?What course of action will you suggest Lawrence take? Justify your suggestion
In the past, Peter Kelle's tire dealership in Baton Rouge sold an average of
1,000
radials each year. In the past 2 years,
220
and
250,
respectively were sold in fall,
360
and
320
in winter,
145
and
175
in spring, and
300
and
230
in summer. With a major expansion planned, Kelle projects sales next year to increase to
1,200
radials.
Based on next year's projected sales, the demand for each season is going to be (enter your responses as whole numbers):
Season
Demand
Fall
nothing
GreenLawns provides a lawn fertilizing and weed control service. The company is adding a special
aeration treatment as a low-cost extra service option, which it hopes will help attract new
customers. Management is planning to promote this new service in two media: radio and direct-mail
advertising. A media budget of $4 (in thousands)is available for this promotional campaign. Based on-
past experience in promoting its other services, GreenLawns has obtained the following estimate of
the relationship between sales and the amount spent on promotion in these two media:
S-2R2-12M2-9RM
+ 20R +37M,
Where
S = total sales
R = amount spent on radio advertising
M = amount spent on direct-mail advertising
GreenLawns would like to develop a promotional strategy that will lead to maximum sales subject to
the restriction provided by the media budget.
The problem is formulated as below:
Max
-2R2-12M²-9RM+20R+37M
s.t.
1R+1M=0
Using Excel Solver, solve the above nonlinear optimization model.
(a) What…
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