Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Operation Management Expert

Management Studies


Home >> Operation Management

A diligent MBA student faces a dilemma late in their last semester in the program. Two of their classes, a FINANCE class and a MANAGEMENT SCIENCE class have homework assignments due on the same day. There is not enough time to complete them both. The FINANCE faculty member has shown some previous tendencies for succumbing to pressure and has numerous times during the semester allowed extensions to homework due dates at the last minute. The MANAGEMENT SCIENCE faculty member will not grant an extension. The MBA student wishes to decide which homework to focus on. Key is their objective. Assume their choice is based upon trying to maximize their expected GPA for the semester. Some numerical estimations to help the MBA student decide: If the student chooses to complete the FINANCE homework (and thus, not the MANAGEMENT SCIENCE homework), there is an equal likelihood (probability) that the student will earn a 3.5 semester GPA or a 3.75 semester GPA. (**) If the student chooses to complete the MANAGEMENT SCIENCE homework, you can ask the FINANCE instructor for an extension. If she is in a good mood (which happens 80% of the time), she will give you extra time to complete your assignment. 75% of the time, with extra time, you will end up earning a 4.0 GPA. However, the other 25% of the time, due to a loss of goodwill, you will earn a 3.0 GPA. If she is not in a good mood (20% of the time), you will be denied the extension and earn a 3.4 GPA. If the student chooses to complete the MANAGEMENT SCIENCE homework, and you do not ask for an extension, there is still a 60% chance that the FINANCE instructor will allow an extension. If there is an extension given for the FINANCE homework, the student will have a 66.66% chance of earning a 3.7 GPA and a 33.33% chance of earning a 4.0 GPA. Without an extension, the assumption is that the student will earn a 3.4 GPA when all is said and done. Determine the optimal choice for the student based upon the expected GPA criterion. Would that decision be different if they were a pessimistic/risk-averse/risk-taking decision maker?

Operation Management, Management Studies

  • Category:- Operation Management
  • Reference No.:- M92591922

Have any Question?


Related Questions in Operation Management

The systeminformation landscape for buying on-linethere is

The System/Information Landscape for Buying On-line There is no easy way to find the answer to this question, and in fact, I would be surprised if you could find anything to cite as a resource, this paper is more about y ...

Reflective practice is crucial in education and becomes the

Reflective practice is crucial in education and becomes the foundation for ongoing growth and development as a professional. Reflect on how you plan to continue growing in your practice and utilize district, academic, or ...

The wall street journal reported that the age at first

The Wall Street Journal reported that the age at first startup for 55% of entrepreneurs was 29 years of age or less and the age at first startup for 45% of entrepreneurs was 30 years of age or more. What is the mean and ...

Political science - some presidents have served in active

Political Science - Some Presidents have served in active combat and some have served in the National Guard, never having seen combat. Other Presidents have not served in the military at all. Do you believe that the Pres ...

Excellence in customer service is the objective of all

Excellence in customer service is the objective of all organisations wishing to be successful. However, there is often a gap between customer expectations and management perceptions of customer expectations. Organisation ...

Improving the quality of health care has proven to be an

Improving the quality of health care has proven to be an elusive and difficult task. Health care organizations have experienced considerable difficulty in grasping all the individual-level, and system- level factors that ...

This is the task c of my entreprenuership and small

This is the task C of my (Entreprenuership and small business) assignment which is divided into several parts as well. 1. Definitions of creativity and innovation. 2. The main sources of generating business and entrepren ...

1 a plumbing company has 8 crews fielding repair calls it

1. A plumbing company has 8 crews fielding repair calls. It takes a crew 2 hours to complete one repair call (including travel time and breaks). What is the capacity of the plumbing company over the course of a 10-hour w ...

Writing using plain language communication ethics making

Writing: Using Plain Language; Communication Ethics: Making Ethical Choices, [LO-3], Chapter 1 Your company has been a major employer in the local community for years, but shifts in the global marketplace have forced som ...

1 what are some of the barriers that you have seen your

1. What are some of the barriers that you have seen your organization overcome while implementing a change? Did they use some of the approaches that we have been discussing (diagnosis, organizational redesign)? Please be ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved