Operations Management
11th Edition
ISBN: 9780132921145
Author: Jay Heizer
Publisher: PEARSON
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Chapter A, Problem 9DQ
Question
9. Identify the five steps in analyzing a problem using a decision tree.
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QUESTION 8
(SEE THE DECISION TREE BELOW) Answers are below the diagram. What is the final value of the decision tree?
Large manufacturing
Economics
Good (.6)
Small manufacturing
Economics
Poor (.4)
Economics
Good (.6)
Economics
Poor (.4)
Rent empty structure
Rent floor space
70,000
50,000
65,000
55,000
--5000
Rent empty structure
Rent floor space30,000
Question 1:
In what particular situation where a manager needs to evaluate alternative courses of action to come up with a decision?
Question 8
A decision support system is an organized collection of people, procedures, software, databases,
and devices used to help make decisions that solve problems.
a) Define at least THREE (3) characteristics of a decision support system.
b) Explain the comparison between decision support system and management information
system in term of problem type.
Chapter A Solutions
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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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- Question 1After collecting all those information, David is trying to conceptualize his problem. Supposeyou were David, how you will analysing the problem.You are expected to describe and investigate the problem in a more systematic way, andprovide answers for:• What were the key decisions?• What were the key uncertainties?• What was the timing of decisions?• What was the timing of the resolution of uncertainty?• What data would he need in order to make an intelligent, defensible decision?arrow_forwardQuestion 15 Which of the following is not considered a step in the decision-making process? O Evaluate each alternative solution based on its merits and drawbacks O Select the best alternative. O Minimize costs whenever possible O Clearly define the problem and the factors that influence it MacBook Airarrow_forwardQuestion 3 The rational decision making model is most commonly applied to O programmed decisions. O uriprogrammed decisions O neither programmed nor unprogrammed decisions both neither programmed and unprogrammed decisions.arrow_forward
- DECISION TREE TUTORIAL QUESTIONS QUESTION 1 An events management company is trying to decide whether or not to advertise an outdoor concert. The sale of tickets is dependent on the weather. If the weather is poor it is expected that 5 000 tickets will be sold without advertising. There is a 70% chance that the weather will be poor. If the weather is good it is expected that 10 000 tickets will be sold without advertising. There is a 30% chance that the weather will be good. If the concert is advertised and the weather is poor, there is a 60% chance that the advertising will stimulate further demand and ticket sales will increase to 7 000. If the weather is good there is a 25% chance the advertising will stimulate demand and ticket sales will increase to 13 000. The profit expected, before deducting the cost of advertising, at different levels of ticket sales are as follows: The cost of advertising the concert will be N$15 000. Number of tickets sold Profit N$ (20 000) (5 000) 35 000 55…arrow_forwardQUESTION 3 a) Decision making consist of two characteristic which are programmed and non-programmed decision. Explain the different between them. b) In general, there are three different condition under decision making which are certainty. risk and uncertainty. Elaborate all the condition.arrow_forwardQuestion 4.27arrow_forward
- Question 45 Forecasting is utilized in which of the following areas? A product demand process design (c) new technology D all of the abovearrow_forward5 Question 5 options: methodology in ethical decision making is concerned with the consequences of the decision.arrow_forwardCluster analysis is often used for what business purpose? Question 12 options: Predicting product demand Segmenting customers Assessing product success Forecasting future revenuearrow_forward
- Question Four: ABC Company sells home appliances. Daily sales for a six-day period were as follows: Day Sales Saturday 20 Sunday 24 Monday 30 Tuesday 40 Wednesday 36 Thursday 44 Forecast Friday sales volume using each of the following methods: A three-day moving average. A four day weighted average using weights of 0.1, 0.2, 0.3 and 0.4 Exponential smoothing with a smoothing constant equal to 0.2, assuming Wednesday forecast of 42. Determine a linear trend line equation for ABC Company. Use the trend equation to forecast Friday sales volume.arrow_forwardQUESTION I Automobile Alliance, a large automobile manufacturing company, organizes the vehicles it manufactures into three families: a family of trucks, a family of small cars, and a family of midsized and luxury cars. One plant outside Detroit, MI, assembles two models from the family of midsized and luxury cars. The first model, the Family Thrillseeker, is a four-door sedan with vinyl seats. plastic interior, standard features, and excellent gas mileage. It is marketed as a smart buy for middle- class families with tight budgets, and each Family Thrillseeker sold generates a modest profit of $3,600 for the company. The second model, the Classy Cruiser, is a two-door luxury sedan with leather seats, wooden interior, custom features, and navigational capabilities. It is marketed as a privilege of affluence for upper-middle-class families, and each Classy Cruiser sold generates a healthy profit of $5,400 for the company. Rachel Rosencrantz, the manager of the assembly plant, is…arrow_forwardQuestion 1: Market planning, Inc. a marketing research firm, has obtained the prescription sales data for 20 independent pharmacies (attached). In this table y is the average weekly prescription sales over the past year (in units of $1,000), x1 is the floor space (in square feet), x2 is the percentage of floor space allocated to the prescription department, x3 is the number of parking spaces available to the store, x4 is the weekly per capita income for the surrounding community (in units of $100), and x5 is a dummy variable that equals 1 if the pharmacy is located in a shopping center and 0 otherwise. Regress average weekly prescription sales against different combinations of the independent variables. What is the best model? Discuss what the parameter coefficients say about prescription sales.arrow_forward
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