MGMT 350-Get Answer Now

MGMT 350-Get Answer Now
 
Type your answers in the Excel File Template. Submit your finished excel file onto Blackboard.

Napa Air Express decided to offer direct service from Denver to Napa Valley. Management must decide between a full-price service using the company’s new fleet of jet aircraft and a discount service using smaller-capacity commuter planes. It is clear that the best choice depends on the market reaction to the service Napa Air Express offers. Management developed estimates of the contribution to profit for each type of service based on two possible levels of demand for service to Napa Valley: strong and weak. The following table shows the estimated quarterly profits (in thousands of dollars):

 
Demand for Service

Service
Strong
Weak

Full Price
$960
-$420

Discount
$720
$360

If nothing is known about the probabilities of the chance outcomes, what is the recommended decision using the optimistic, conservative, and minimax regret approaches and why?
Suppose that management of Napa Air Express believes that the probability of strong demand is 0.6 and the probability of weak demand is 0.4. Construct a decision tree and use the expected value approach to determine an optimal decision.
Geniue Antique Egyptian Artifacts, Inc. produces three varieties of antique artifacts for sale to tourists: statuettes, lamps, and urns. All of the artifacts include special clay. A statuette requires 13 ounces of clay, a lamp uses 18 ounces, and each urn takes 17 ounces. Existing capacity of clay is 28,000 ounces per month. A special material is also used to produce the three artifacts, with each statuette needing 0.8 ounces, each lamp 0.7 ounces, and a typical urn requiring 1.0 ounces. The company has inventory of 1,200 ounces of special material per month.

The owner of the company wishes to maintain a balanced marketing program, and has ordered that production of statuettes to be limited to 275. The overall per unit profit for artifacts is the following: $199 per statuette, $99 per lamp, and $145 per urn. The owner wants to know how much of each type of antique to fabricate monthly in order to optimize profit.

What are the objective function, decision variables, and constraints for this optimization problem?
Develop an Excel spreadsheet and use Excel-Solver to find an optimal solution for this problem.
Describe the optimal solution in words.

Consider the following quarterly time series.

Quarter
Year 1
Year 2
Year 3

1
923
1,112
1,293

2
1,056
1,247
1,401

3
1,124
1,373
1,554

4
992
1,178
1,398

Construct a time series plot. What type of pattern exists in the data?
Use a multiple regression model to develop an equation to account for seasonal and trend effects in the data.
Compute the quarterly forecasts for next year based on the model developed in part (b).
Grave City is considering the relocation of several police substations to obtain better enforcement in high-crime areas. The locations under consideration together with the areas that can be covered from these locations are given in the following table:

Potential Locations for Substations
Areas Covered

A
1, 5, 7

B
1, 2, 5, 7

C
1, 3, 5

D
2, 4, 5

E
3, 4, 6

F
4, 5, 6

G
1, 5, 6, 7

 
Formulate an integer programming model that could be used to find the minimum number of location necessary to provide coverage to all areas. Solve your model.

Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

We value our clients. For this reason, we ensure that each paper is written carefully as per the instructions provided by the client. Our editing team also checks all the papers to ensure that they have been completed as per the expectations.

Professional Academic Writers

Over the years, our Acme Homework has managed to secure the most qualified, reliable and experienced team of writers. The company has also ensured continued training and development of the team members to ensure that it keep up with the rising Academic Trends.

Affordable Prices

Our prices are fairly priced in such a way that ensures affordability. Additionally, you can get a free price quotation by clicking on the "Place Order" button.

On-Time delivery

We pay strict attention on deadlines. For this reason, we ensure that all papers are submitted earlier, even before the deadline indicated by the customer. For this reason, the client can go through the work and review everything.

100% Originality

At Graduate Assistants, all papers are plagiarism-free as they are written from scratch. We have taken strict measures to ensure that there is no similarity on all papers and that citations are included as per the standards set.

Customer Support 24/7

Our support team is readily available to provide any guidance/help on our platform at any time of the day/night. Feel free to contact us via the Chat window or support email: support@acmehomework.com.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Graduate Assistants has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.

Essays

Essay Writing Services

At Graduate Assistants, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.

Admissions

Admission and Business Papers

Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.

Editing

Editing and Proofreading

Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.

Coursework

Technical papers

We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.