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QUESTION

Microsoft Excel®, Bell Computer Company Forecasts data set, Case Study Scenarios 

Microsoft Excel®, Bell Computer Company Forecasts data set, Case Study Scenarios 

Write a 1,050-word report based on the Bell Computer Company Forecasts data set and Case Study Scenarios. 

Include answers to the following: 

Case 1: Bell Computer Company

  • Compute the expected value for the profit associated with the two expansion alternatives. Which decision is preferred for the objective of maximizing the expected profit?
  • Compute the variation for the profit associated with the two expansion alternatives. Which decision is preferred for the objective of minimizing the risk or uncertainty? 

Case 2: Kyle Bits and Bytes

  • What should be the re-order point? How many HP laser printers should he have in stock when he re-orders from the manufacturer?

Format your assignment consistent with APA format.

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**** 1: **** ******** ********** Bell ******** ******* has *** ********* options: ****** ***** *** ***** ***** *** both medium ***** expansion *** large ***** expansion ****** can ** low ****** ** **** with probability ** ** ** *** ** respectively *** ****** ***** ********* ******* ** **** of low ****** *** **** ****** *** $50000 $150000 and ******* ************ *** large ***** ********* ******* ** **** of *** medium *** **** ****** *** ** ******* and $300000 ************ ********** ** facing dilemma ******* to ** *** medium ***** expansion ** ***** scale ********* ***** large ***** ********* *** potential ** generate higher ****** ** **** of **** ****** *** ***** scale expansion **** ******** ***** profit **** ****** ***** ********* in **** of *** and medium ****** ** **** ** low ****** *** ***** ***** ********* ******* in *** ****** Clearly *********** ********* bears more **** **** *** ********* expansion The ******** ***** ** ** *********** value ** ** action ** ****** *** ******** possible ******** ***** ** **** ** ********* *********** ** ********** ** **** ******* *** ******** ***** ** calculated by multiplying each ******** ******** ** *********** ** ********** of **** ******* *** ****** all those ****** (Hossein ***** ******** ***** ** ****** ***** ********* *** large ***** ********* **** **** *** ********** choose *** ********* ****** **** ** most likely ** ******** ****** *********** ******** ***** of *** alternatives are:Medium ***** ********** ********* scale ********** ********* ****** ***** ********* *********** has ****** ******** value than large-scale expansion ******* **** medium-scale ********* ** preferred for *** ********* of ********** ******** ************** ******* ******** ***** is not ****** ** **** ** informed ******** ** ** **** ********* ** know *** ******* can ******* **** the ******** ***** *** **** purpose ******** is **** Variance ******** how *** * *** ** ****** values are ****** from *** **** ***** ****** ******** means *** random ****** are spread *** from *** **** A *** ******** ** ************ ******** ** ****** ********* ** the expected value ** ******* ********* **** the ****************** variance ** ******** random ********* is ********** ****** * E[(X-µ)2] * ********* **************** ********** variance ** ************ *** large-scale ********* ******** are:Medium-scale ********** *************** ********** 12400 The ********* *** ****** ********** **** *********** expansion ** much ****** **** *** ********* *** ****** associated **** ************ ******************* ********* ** * ******* ** risk Standard ********* is * ******* **** ** quantify *** amount of ********* ** * set ** data ****** ******** deviation is calculated ** square **** ** ******** *** standard ********* indicates **** ****** values **** to ** ***** to *** ******** ***** * ***** ******** ********* indicates ***** **** and a ****** ******** deviation ********* higher ********* ******** deviation ** ************ *** *********** ********* projects **************** ********** **************** ********** ************* value of ******** deviation of ************ ********* ********* **** ************ expansion project is less risky **** the large-scale expansion ******* ** ************ expansion ******* ** preferred *** the ********* ** minimizing the **** ** ****************************** ************ expansion ******* *** ****** expected ***** and lower **** **** ********** should ****** ************ expansion project Case 2: **** **** *** ********* **** *** ***** ** * ******** ** ********* ******** ******** **** ******* ******* ** an ** ***** ******* *** this product ******* ****** ****** is *** ***** *** **** time ** one **** ******* ****** is *** ******** Kyle has observed **** ****** ****** ******** ********* ** ** **** **** to **** **** ****** they ***** order *** ******* ****** *** inventory ***** ** **** ***** is stock-out ** **** ** *** **** to ******* ** ***** *** to stock-out Kyle will **** **** **** *** ******** ********** **** **** *** *** ******* ********** *********** of ********* in *** week to ** **** **** target Kyle wants ** **** **** should ** the ******** ***** and *** **** ** ***** ******** ****** ** ** ************** point ** the ********* ***** at which ***** should ** placed In **** **** demand ** variable *** ******** demand ** is ******* that ****** *** be described ** a normal ************ *** ******* ****** *** *** **** **** ** *** *** of ******* ***** demand *** the ****** ** **** in lead **** ****** **** *** ** ********** by multiplying average daily demand ** *** **** **** The variance ** *** ************ is calculated ** *** *** of ***** variance for *** ****** ** **** ** **** ******** ******* ***** * * ** * z*σ*√LWhered * ******* daily ******* * lead ****** = ******** ********* of daily ******* * Number ** ******** ********** corresponding ** *** ******* level ******************* ***** Taylor ************ * 200/7 unitsL * * ****** * *********** ******** *********** of stock *** ** ** It means ******* ***** ** ******** z-table ************* ** ***** ** *********** * 156Thus reorder point R * ********* + *********** **** * 200 + **** * ******* Kelly’s **** place ** order when inventory ***** ******* *** *********** demand ** variable ***** ** ****** ** ******** *** stock **** ******** *** ***** ****** the **** **** * **** needs ** maintain safety ***** ** ***** *** risk ** ***** *** *** safety ***** is the additional ********* a **** ********* ***** ******** ****** to ***** ***** out ***** use ******* level ** ********* ****** ***** * **** ******* **** *********** it *** afford ** stock *** *** service ***** is probability ** ** ***** out during **** **** **** *********** ** ****** ******* ***** ******** ***** Taylor ***** *** ******* * ******* ***** of *** ***** there ** *** *********** that **** **** **** ****** during **** time ** means *** *********** ** ***** *** ** ********* stock ** ********** ********* stock * ********** * **** ****** * ******** ********* ** ***** ******* * ****** ** standard ********** ************* ** *** ******* level probability In **** ***** * 7 daysσ * *********** ******** *********** of ***** out ** 6% It means ******* ***** ** 094Using z-table corresponding ** ***** is *********** * ******* ****** ***** =156*(30/7)* √7 * **** = ** ********* ********* ****** ******** ** ***** safety stock ** ** ***** printer ** ***** ***** ************************ * (2014) Introduction ** Probability ********** *** ****** ********* ***** Research Russell * * Taylor * * (2011) ********* ********** **** *** Wiley *********** **** ***** & ****

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