EBK OPERATIONS MANAGEMENT
11th Edition
ISBN: 8220103630726
Author: RENDER
Publisher: PEARSON
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Chapter A, Problem 24P
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•••• A.24 On the opening page of Module A and in Example A8, we follow the poker decision made by Paul Phillips against veteran T.J. Cloutier. Create a decision tree that corresponds with the decision made by Phillips.
At the Legends of Poker tournament in Los Angeles, veteran T.J. Cloutier opens with a $60,000 bet. (Antes and required bets of $39,000 are already on the table.) Former Go2net CTO Paul Phillips ponders going “all in”—betting virtually all his chips. Using decision theory, here’s how he decided.
“To see the details of Phillips’s decision, see Example A8.
As on the first page in this module, Paul Phillips is deciding whether to bet all his chips against poker star T.J. Cloutier. Philips holds a pair of 7s. Phillips reasons that T.J. will fold (with 80% probability) if he does not have a pair of 5s or better, or very high cards like a jack, queen, king, or ace. But he also figures that a call would put $853,000 into the pot and surmises that even then, there is 45% chance his pair of 7s will win.
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a) What problems is UniCo facing and how are they tackling these problems currently?
b) What advice did Jonah give to Rogo, and what lessons did Rogo learn from “Herbie’s Hike”?
c) How do you think Rogo can leverage Jonah’s advice (as well as the lessons learnt from “Herbie’s Hike”) to solve UniCo’s problems?
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Chapter A Solutions
EBK OPERATIONS MANAGEMENT
Ch. A - Prob. 1DQCh. A - Prob. 2DQCh. A - Prob. 3DQCh. A - Prob. 4DQCh. A - Prob. 5DQCh. A - Question: 6. Explain how decision trees might be...Ch. A - Prob. 7DQCh. A - Prob. 8DQCh. A - Question 9. Identify the five steps in analyzing a...Ch. A - Prob. 10DQ
Ch. A - Question 11. The expected value criterion is...Ch. A - Question 12. When are decision trees most useful?Ch. A - Given the following conditional value table,...Ch. A - Prob. 2PCh. A - Prob. 3PCh. A - Jeffrey Helm owns a health and fitness center...Ch. A - Prob. 5PCh. A - Prob. 6PCh. A - Prob. 7PCh. A - Prob. 8PCh. A - Prob. 9PCh. A - Prob. 10PCh. A - The University of Miami bookstore stocks textbooks...Ch. A - Palmer Jam Company is a small manufacturer of...Ch. A - Prob. 13PCh. A - Prob. 14PCh. A - Prob. 15PCh. A - Prob. 16PCh. A - Prob. 17PCh. A - Prob. 18PCh. A - Prob. 19PCh. A - Philip Musa can build either a large video rental...Ch. A - Prob. 21PCh. A - Prob. 22PCh. A - Prob. 23PCh. A - Question A.24 On the opening page of Module A and...Ch. A - Question Warehouse Tenting at the Port of Miami...Ch. A - Question Warehouse Tenting at the Port of Miami...Ch. A - Question Warehouse Tenting at the Port of Miami...
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