A suburb of Dayton, Ohio, has four local dry cleaners that compete with each other on the basis of price and service speed. Each of them can perform the same basic services at the same level of quality. The following table provides the price that each dry cleaner charges to clean a two-piece suit, as well as the quoted number of days that the service will take. Dry Cleaner Price Number of Days A $ 8.00 3 B $ 9.50 3 C $ 9.00 2 D $ 7.50 4 Which of these dry cleaners are NOT on the efficient frontier?

A suburb of Dayton, Ohio, has four local dry cleaners that compete with each other on the basis of price and service speed. Each of them can perform the same basic services at the same level of quality. The following table provides the price that each dry cleaner charges to clean a two-piece suit, as well as the quoted number of days that the service will take. Dry Cleaner Price Number of Days A $ 8.00 3 B $ 9.50 3 C $ 9.00 2 D $ 7.50 4 Which of these dry cleaners are NOT on the efficient frontier?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter10: Introduction To Simulation Modeling

Section: Chapter Questions

Problem 41P: At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 =...

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At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 = average; 4 = bad. The weekly revenue earned by a machine in state 1, 2, 3, or 4 is 100, 90, 50, or 10, respectively. After observing the condition of the machine at the beginning of the week, the company has the option, for a cost of 200, of instantaneously replacing the machine with an excellent machine. The quality of the machine deteriorates over time, as shown in the file P10 41.xlsx. Four maintenance policies are under consideration: Policy 1: Never replace a machine. Policy 2: Immediately replace a bad machine. Policy 3: Immediately replace a bad or average machine. Policy 4: Immediately replace a bad, average, or good machine. Simulate each of these policies for 50 weeks (using at least 250 iterations each) to determine the policy that maximizes expected weekly profit. Assume that the machine at the beginning of week 1 is excellent.
A manager of Splitter Manufacturing that produces computer hard drives is planning to lease a new automated inspection system. The manager believes the new system will be more accurate than the current manual inspection process. The firm has had problems with hard drive defects in the past and the automated system should help catch these defects before the drives are shipped to the final assembly manufacturer. Respond to all questions based on the data provided. Current Manual Inspection System Annual fixed cost = $45,000 Inspection variable cost per unit = $15 per unit New Automated Inspection System Annual fixed cost = $165,000 Inspection variable cost per unit = $0.65 per unit 2. In Problem 1, assume the cost factors given in “current manual system” have not changed. A marketing representative from Hi-Quality, a firm that specializes in providing manual inspection processes for other firms, approached Splitter…
A manager of Splitter Manufacturing that produces computer hard drives is planning to lease a new automated inspection system. The manager believes the new system will be more accurate than the current manual inspection process. The firm has had problems with hard drive defects in the past and the automated system should help catch these defects before the drives are shipped to the final assembly manufacturer. Respond to all questions based on the data provided. Current Manual Inspection System Annual fixed cost = $45,000 Inspection variable cost per unit = $15 per unit New Automated Inspection System Annual fixed cost = $165,000 Inspection variable cost per unit = $0.65 per unit a. Suppose annual demand is 7,000 units. Should the firm lease the new inspection system? Why or why not? (Your “why” should not be “the spreadsheet output indicated….”) b. Assume you are trying to change (or negotiate) situational factors to make…
Eastern Motors Auto Dealership wanted to estimate the average CLV over a 5 year time horizon of a customer who purchases a new vehicle. The average vehicle sells for $28,939 and has a margin of 6%. Based on historical averages, 83 of people buying a new vehicle at Eastern will return for service 9 times over the next 5 years. Though it varies considerably, Eastern generates approximately $92 in margin on each service visit after accounting for parts and direct labor costs. What is the estimated 5 year value of the service component (only) of a customer who purchases a new vehicle at Eastern Motors?
Usually, it takes days to offer a service in e.government. Select one: a. True b. False
Relevant Costs and Quality Improvement Lightening Bulk Company is a moving companyspecializing in transporting large items worldwide. The firm has an 85% on-time delivery rate.Thirteen percent of the items are misplaced and the remaining 2% are lost in shipping. On average,the firm incurs an additional $65 per item to track down and deliver misplaced items. Lost items costthe firm about $300 per item. Last year, the firm shipped 6,000 items with an average freight bill of$200 per item shipped.The firm’s manager is considering investing in a new scheduling and tracking system costing$125,000 per year. The new system is expected to reduce misplaced items to 1% and lost items to0.5%. Furthermore, the firm expects total sales to increase by 10% with the improved service. Theaverage contribution margin ratio on any increased sales volume, after cost savings associated witha reduction in misplaced and lost items, is expected to be 37.5%.Required1. Based on a relevant cost analysis, should…
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Please do not give solution in image formate thanku. Avis Company is a car rental company that is located three miles from the Los Angeles airport (LAX). Avis is dispatching a bus from its offices to the airport every 3 minutes. The average traveling time (round-trip) is 10 minutes. a.How many Avis buses are traveling to and from the airport? (Do not round intermediate calculations. Round your answer to 1 decimal place.)
Each day, a FedEx competitor processes approximately 50,000 shipments. Suppose that they use the same Service Quality Index as FedEx and identified the following numbers of errors during a 5-day week (see the "FedEx: Measuring Service Performance" box). These values are hypothetical and do not reflect any real company’s actual performance. Description Weight Number of Errors Complaints reopened 3 145 Damaged packages 10 17 International 1 109 Invoice adjustments 1 284 Late pickup stops 3 207 Lost packages 10 4 Missed proof of delivery 1 28 Right date late 1 752 Traces 3 115 Wrong day late 5 11 Compute the Service Quality Indicator by finding the weighted sum of errors as a percentage of total shipments. Do not round intermediate calculations. Round your answer to three decimal places. Service Quality Indicator (SQI): %
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In case of a production company which produces 3 different products (RE1, RE2, RE3), we know the following information: Measuring Unit RE1 RE2 RE3 Quantity unit 3,000,000 4,000,000 5,000,000 Sales Price Euro/unit 2,500 3,000 3,500 Production Cost Euro/unit 1,500 1,500 1,500 Consumption Factor kg/unit 0.02 0.04 0.01 Tasks: a) Has a company scarce resource if the company has only 250 tons raw material? b) Calculate the optimal composition of products! c) Determine the estimated total sales!
HW1 Q1 Consider the emergency department of a hospital that operates as follows: Upon arrival, patients first wait in line for registration. Then, after registration, patients wait to see a triage nurse who classifies them as either critical or non-critical. After the triage nurse, critical patients go to the emergency care area waiting to be seen by a doctor while non-critical patients go to the routine care area where they wait to see a doctor. It is determined that there are, on average, 20 patients registering or waiting to be registered, 5 patients being seen or waiting to be seen by the triage nurse, 15 critical patients being seen or waiting to be seen by a doctor in the emergency area, and 20 non-critical patients being seen or waiting to be seen by a doctor in the routine care area, Assuming that 20 patients arrive every hour and that 75% of the patients are non-critical, how many minutes does a patient spend on average in the emergency department of the hospital? Average time…