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- Quantitative Methods 1.The minimum expected opportunity loss ____________________. a.) is equal to the highest expected payoff. b.) is greater than the expected value with perfect information. c.) is equal to the expected value of perfect information. d.) is computed when finding the minimax regret decision. 2.) A decision tree is preferable to a decision table when_________________________. a.) a number of sequential decisions are to be made. b.) probabilities are available. c.) the maximax criterion is used. d.) the objective is to maximize regret. 3.In decision theory, probabilities are associated with _____________________. a.) payoffs. b.) alternatives. c.) states of nature. d.) none of the above.13. Decision making that occurs in response to unusual, unpredictable opportunities and threats requires : a. Time b. Effort c. Analysis d. All of the aboveidentify whether each of the following is strategic or tactical. Give your reasoning for each choice. a. negotiating a sale price with an individual customer b. negotiating a delivery contract with a major supplier c. establishing a preventative maintenance schedule for a newly purchased machine d. planning the weekly preventative maintenance tasks for a machine e. deciding the layout of a section of grocery store shelving f. deciding the layout of an entire grocery store
- Management Decision Systems (MDS) is a consulting company that specializes in the development of decision support systems. MDS has a four-person team working on a current project with a s company to set up a system that scrapes data from a collection of websites and then automatically generates a report for management on a daily basis. Time (Weeks) Activity A B с с Description Report generation Web scraping Testing Immediate Predecessor This answer has not been graded yet. A, B Optimistic 2 5 1 Most Probable (a) Construct the project network. (Submit a file with a maximum size of 1 MB.) Choose File No file chosen 9 10 1 O The probability estimate from (c) based on both paths is more accurate. O The probability estimates from (b) and (c) are equal. Pessimistic (d) Should you use the estimate in (b) or (c)? O The probability estimate from (b) based on the critical path is more accurate. 13 12 (b) Based solely on the critical path, estimate the probability that the project will be…%24 wP NWP Assessment Builder UI App X WP NWP Assessment Player UI Appli X A Player A Player Chapter 13 Wiley Assignment - H x A education.wiley.com/was/ui/v2/assessment-player/index.html?launchld%3Da67db8cb-3f9b-4d0b-ae91-9b01aaada0c5#/question/7 e Chapter 13 Wiley Assignment - Homework Question 8 of 8 View Policies Current Attempt in Progress The concession stand at the Shelby High School stadium sells slices of pizza during boys' and girls' soccer games. Concession stand sales are a primary source of revenue for the high school athletic programs, so the athletic director wants to sell as much food as possible; however, any pizza not sold is given away free to the players, coaches, and referees or it is thrown away. Thus, the athletic director wants to determine a reorder point that will meet the demand for pizza. Pizza sales are normally distributed with a mean of 6 pizzas per hour and a standard deviation of 3.70 pizzas. The pizzas are ordered from Pizza Beth's restaurant, and the…Management Decision Systems (MDS) is a consulting company that specializes in the development of decision support systems. MDS has a four-person team working on a current project with a small company to set up a system that scrapes data from a collection of websites and then automatically generates a report for management on a daily basis. Time (Weeks) Activity Description ImmediatePredecessor Optimistic Most Probable Pessimistic A Report generation 2 9 13 B Web scraping 6 10 12 C Testing A, B 1 1 1 (a) Construct the project network. (Submit a file with a maximum size of 1 MB.) This answer has not been graded yet. (b) Based solely on the critical path, estimate the probability that the project will be complete within 12 weeks. (Round your answer to four decimal places.) (c) Using all paths through the project network, estimate the probability that the project will be complete within 12 weeks. (Round your answer to four decimal places.) (d)…
- You may need to use the appropriate technology to answer this question. Management Decision Systems (MDS) is a consulting company that specializes in the development of decision support systems. MDS has a four-person team working on a current project with a small company to set up a system that scrapes data from a collection of websites and then automatically generates a report for management on a daily basis. Time (Weeks) Activity A B с Description Report generation 5 Web scraping Testing img20230305_11125728.pdf Immediate Predecessor A, B Optimistic 1 4 1 (a) Construct the project network. (Submit a file with a maximum size of 1 MB.) Choose File No file chosen Most Probable 8 9 1 Pessimistic 12 (d) Should you use the estimate in (b) or (c)? O The probability estimate from (b) based on the critical path is more accurate. The probability estimate from (c) based on both paths is more accurate. O The probability estimates from (b) and (c) are equal. 11 1 (b) Based solely on the critical…3 All of the following steps are a part of the decision-making process except : Select one: a. Analyzing options. b. Developing options. c. Implementing the decision. d. Defining the situation. e. Delegating the decision.27) A company’s corporate office has to decide between investing capital in a given business as it in a high growth industry or divesting that business given its current low market share. The company business is represented by which of the following? a) A star b) A question mark c) A cash cow d A dog
- 38 - Which of the following is one of the management functions predominantly found in the first level manager group? A) Decision makingB) PlanningC) AuditD) RoutingE) Organizing7. a key tool used by all decision makers a. generate results b. purpose c. a model d. assumptions and limitationsManagement Decision Systems (MDS) is a consulting company that specializes in the development of decision support systems. MDS has a four-person team working on a current project with a small company to set up a system that scrapes data from a collection of websites and then automatically generates a report for management on a daily basis. Time (Weeks) Activity Description ImmediatePredecessor Optimistic Most Probable Pessimistic A Report generation 1 8 12 B Web scraping 4 9 11 C Testing A, B 1 1 1 (b) Based solely on the critical path, estimate the probability that the project will be complete within 11 weeks. (Round your answer to four decimal places.) (c) Using all paths through the project network, estimate the probability that the project will be complete within 11 weeks. (Round your answer to four decimal places.)