Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Operation Management Expert

problem 1: A soda producer makes and sells two products, Classic Cola and Diet Cola. If this company spends X1 dollars on promotion of Classic Cola in a particular western city, it can sell at 75 X1^ 0.5 12-packs of Classic Cola each week there.  Furthermore, if this company spends X2 dollars on promotion of Diet Cola in a particular western city, it can sell at 50X2^0.5 12-packs of Diet Cola each week there. Each 12-pack of Classic Cola sells for $3.00 and costs $0.80 to produce and ship to customers in this western city. Each 12-pack of Diet Cola sells for $3.50 and costs $1.00 to produce and ship to customers in this western city. A total of $10,000 is available for promotion each week in this city. The soda producer seeks to maximize its weekly profit. Formulate and resolve a suitable optimization model to help this soda producer identify the best promotional strategies for its two products. 

problem 2: A faculty member can be an assistant professor, an associate professor, or a full professor. In terms of departmental standing, a full professor is above an associate professor, who is in turn, above assistant professor. At the end of each academic year, 13% of assistant professors become associate professors and 18% leave the department; 21% of associate professors become full professors and 17% leave the department; and 9% of full professors leave the department. Demotion never takes place. It is as well known that 60% of faculty members enter the department as an assistant professor, 30% as an associate professor, and 10% as a full professor. When an associate professor leaves the department, 75% of the time is on good terms. When an assistant professor leaves the department, 60% of time is on “bad terms” and 40% of the time is on “good terms”. When a full professor leaves the department, 90% of the time is on “good terms”.

a) describe the discrete-time Markov chain (X(t)) and transition probability matrix.

b) Given that a faculty member enters the department as an assistant professor, find out the probability that he leaves the department on 'bad terms'?

c) Determine the probability that a faculty member leaves the department on 'bad terms'?

d) Given that a faculty member enters the department as an associate professor, how long would you expect him to stay in the department?

e) On average, how many years does a faculty member stay in the department?

Operation Management, Management Studies

  • Category:- Operation Management
  • Reference No.:- M96353

Have any Question? 


Related Questions in Operation Management

From a systems viewpoint what are some of the environmental

From a systems viewpoint, what are some of the environmental issues involved in a decision by a company to outsource manufacturing operations to a foreign country? Please identify a company that has outsourced operations ...

Attributes of the high-performance work Attributes of the High-Performance Work System

Attributes of the High-Performance Work System High-performance work systems provide models for integrating the various practices, work structures, and processes used to get the most out of human capital. As you learned ...

Garden variety flower shop uses 830 clay pots a month the

Garden Variety Flower Shop uses 830 clay pots a month. The pots are purchased at $3.40 each. Annual carrying costs per pot are estimated to be 10 percent of cost, and ordering costs are $10 per order. The manager has bee ...

What ethical difficulties if any arise out of the theory of

What ethical difficulties, if any, arise out of the theory of "no-fault" workers' compensation statutes? Should an employee injured primarily by her own negligence receive the same benefit as one harmed through no fault ...

1 explain in detail the importance of strategic management

1. Explain in detail the importance of strategic management to a small business. Why are mission statements and vision statements so important? 2. What is organizational structures and the effect of organizational struct ...

1 which of the following isare primary purposed of a

1. Which of the following is/are primary purposed of a professional strategic financial management function in an organization? a. make sure that there are sufficient capital funds to support strategies b. make sure that ...

Imagine that you are the chief operations officer coo of

Imagine that you are the chief operations officer (COO) of Amazon.com. You are interested in creating a competitive advantage for your company (compared to other online retailers) in that you wish to be able to provide t ...

Must show all equations using excell formattingscenario

MUST SHOW ALL EQUATIONS USING EXCELL FORMATTING Scenario Data: The mean time required to complete a certain type of construction project is 61 weeks with a standard deviation of 4.15 weeks. Answer questions 1 - 4 using t ...

Must show all equations using excell formattingscenario

MUST SHOW ALL EQUATIONS USING EXCELL FORMATTING Scenario Data: The mean time required to complete a certain type of construction project is 61 weeks with a standard deviation of 4.15 weeks. Answer questions 1 - 4 using t ...

Port management-port planningquestions1what kind of data

PORT MANAGEMENT-PORT PLANNING QUESTIONS 1.What kind of data would you like to use for effective Port Traffic Forecasting? 2.What would you recommend to reduce Port Congestion in the Short and in the Long term? 3.Discuss ...

  • 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

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen