QUESTION FOURA manufacturer is producing face masks and PPEs for use by the DOH for its frontliners to be protected fromCOVID-19 in different hospitals nationwide. Below are the costs of production and demands of the face masksand PPEs required by DOH depending on the type of patients.UnitAlternativeRevenueper UnitS1 = Person Under $2 = Person UnderMonitoring InvestigationCost15.008.0015000Surgical FaceMask (SFM)N99 Face Mask(N99FM)N95 Face Mask(N95FM)Regular PPE(RPPE)225.00150.00750.00175.00 70001850.0075.00 6500500.00 1000025000800085007000$3= Person with S4 = Person withCOVID-19 in Ward COVID-19 in ICU15000.2515000550050001500500025003000Special PPE1500.00 20004500(SPPE)Probability0.350.25a) What is the expected value Blank 1 with perfect information. What is EVPI Blank 2 of this problem.b) Determine the what should the manufacturer produce (use SFM, N99FM, N95FM, RPPE, or SPPE) Blank 3if it wants to minimize its opportunity loss. What is its expected opportunity loss? Blank 4050000.15

The question presents a scenario where a manufacturer is producing face masks and PPEs for the…

COVID-19 in different hospitals nationwide. Below are the costs of production and demands of the face masks and PPEs required by DOH depending on the type of patients. Unit Alternative Revenue per Unit Cost 15.00 8.00 15000 Surgical Face Mask (SFM) N99 Face Mask (N99FM) N95 Face Mask (N95FM) Regular PPE (RPPE) 225.00 150.00 750.00 $1 = Person Under $2= Person Under Monitoring Investigation 1850.00 175.00 7000 75.00 6500 500.00 10000 25000 8000 8500 7000 $3 = Person with S4 = Person with COVID-19 in Ward COVID-19 in ICU 1500 0.25 15000 5500 5000 1500 5000 2500 3000 Special PPE 1500.00 2000 4500 (SPPE) Probability 0.35 0.25 a) What is the expected value Blank 1 with perfect information. What is EVPI Blank 2 of this problem. b) Determine the what should the manufacturer produce (use SFM, N99FM, N95FM, RPPE, or SPPE) Blank 3 if it wants to minimize its opportunity loss. What is its expected opportunity loss? Blank 4 0 5000 0.15

COVID-19 in different hospitals nationwide. Below are the costs of production and demands of the face masks and PPEs required by DOH depending on the type of patients. Unit Alternative Revenue per Unit Cost 15.00 8.00 15000 Surgical Face Mask (SFM) N99 Face Mask (N99FM) N95 Face Mask (N95FM) Regular PPE (RPPE) 225.00 150.00 750.00 $1 = Person Under $2= Person Under Monitoring Investigation 1850.00 175.00 7000 75.00 6500 500.00 10000 25000 8000 8500 7000 $3 = Person with S4 = Person with COVID-19 in Ward COVID-19 in ICU 1500 0.25 15000 5500 5000 1500 5000 2500 3000 Special PPE 1500.00 2000 4500 (SPPE) Probability 0.35 0.25 a) What is the expected value Blank 1 with perfect information. What is EVPI Blank 2 of this problem. b) Determine the what should the manufacturer produce (use SFM, N99FM, N95FM, RPPE, or SPPE) Blank 3 if it wants to minimize its opportunity loss. What is its expected opportunity loss? Blank 4 0 5000 0.15

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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