The Floppier Disk Corp. operates a small manufacturing plant…

The Floppier Disk Corp. operates a small manufacturing plant.  One of its production lines involves two processes, Alpha and Beta, and products must go through Alpha first, then Beta.  Two operators are needed, one for each process, and as soon as a job is finished in the Alpha process it can proceed immediately to the Beta process, releasing Alpha to start the next job immediately.  Beta cannot start a job until it is completely finished on Alpha.  Four jobs are currently waiting to be processed on the line, and the estimated running times on each process is shown below.  Use this information to answer the question below.  Assuming jobs are done in the sequence shown (A-B-C-D), what will be the “makespan” in hours to complete all four jobs?

You have written a self-help book on how to avoid tasteless…

You have written a self-help book on how to avoid tasteless Mylie Cyrus events.  Several reviewers think the book might be a best seller.  You have two offers from publishing houses, but you are also considering self-publishing.  Prudent Publishing has offered you $200,000 guaranteed payment, regardless of the success of the book.  Walrus House Publishing has offered you no guaranteed payment, but you will receive a portion of the profits after the cost to publish and promote the book.  If the book is a success, your estimated share of profit would be $600,000.  If it is a moderate seller, your estimated share would be $250,000.  If it is a flop, your estimated share would be $0.  With Walrus promoting it, you estimate the probabilities to be 20%, 40%, and 40% respectively.  If you choose to self-publish, it will cost you $150,000 to publish and promote your book.  Your estimated gross revenues and probabilities would be: success $1,000,000 (10%), moderate $650,000 (30%) and flop $50,000 (60%).  Which publishing choice has the highest Expected Monetary Value (EMV) payoff?

Hotdog Harry’s is a fast food restaurant that attempts to se…

Hotdog Harry’s is a fast food restaurant that attempts to serve all customers within one minute.  It serves three basic types of hotdogs and past records reveal that 20% of the customers will order type A. 30% type B, and 50% type C.  The price of each type is $4, $3, and $2, respectively.  The number of workers needed to prepare and serve a type A hotdog in one minute is 3, type B, 2, and type C, 1.Answer the following question for Hotdog Harry’s based on a simulation over a five minute period; assume customers arrive at the rate of one per minute, three workers are available, and use the following random numbers: Minute       RN1                 142                 713                 354                 105                 88 What would be the maximum, minimum, and average number of workers needed at any one time during this period based on your simulation?

The Soiled Bloomers Venture is a start-up website that will…

The Soiled Bloomers Venture is a start-up website that will sell potted plants.  They are not sure how well their plants will be received online.  If they get a good market reception in terms of volume, they figure they can sell 100,000 plants per year.  If they get a good market reception in term of price, they will average $10 each.  If they get only moderate reception, they will sell only 75,000 plants and $9.50, respectively.  If they get poor reception, they will sell only 50,000 plants and $9.00 respectively.  They give each scenario an equally likely chance and consider all to be independent of each other.  They know they will have fixed costs of $200,000 per year but are unsure of their variable costs.  If all goes well and their costs are low, the average cost to them per plant will be $5.50.  The most likely cost will be $6.50, but if things go bad, the cost will be $7.50 per plant.   They give each of these possible costs an equally likely chance.  Assume they use the spreadsheet below to run a Monte Carlo analysis to estimate the probability of earning various levels of profit, which will be their wages.  In this spreadsheet used to solve this problem, what would be the likely formula for cell C33 for Total Revenue?