Simternship Round 2

What other real-world factors might be important to consider in designing the simulation and making a recommendation?

Question One Discuss the risk management process according to Harrington and Niehans (2003) Question Two Avoidance is a risk control technique that can be used to effectively in a risk management program, a) What is the major advantage of using this technique as a risk control measure 0 I Is it possible or practical for a firm to avoid all potential losses? Explain your answer Question Three Discuss the major type of pure risk which is associated with great financial risk Question Four Certain requirement ideally should be fulfilled before a pure risk can be privately insured. Explain the six requirement of an insurable risk Question Five Explain each of the following characteristics of a typical insurance plan. b) C) Pooling of losses Payment of fortuitous losses Risk transfer Indemnification

I want to answer to solve ㅠㅠㅠㅠ.   Q1. A builder has located a piece of property that she would like to but and eventually build on. The land is currently zoned for four homes per acre, but she is planning to request new zoning. What she builds depends on approval of zoning requests and your analysis of this problem to advise her. With her input and your help, the decision process has been reduced to the following costs, alternatives, and probabilities Cost of land $2 MillionProbability of rezoning .6If the land is rezoned, there will be additional costs for new roads, lighting, and so on of $1 million. If the land is rezoned, the contractor must decide whether to build a shopping center or 1,500 apartments that the tentative plan shows would be possible. If she builds a shopping center, there is a 70% chance that she can sell the shopping center to a large department store chin for $4 million over her construction cost, which excludes the land; and there is a 30% chance that she can…

Michelle, age 45, currently makes $95,000. Her wage replacement ratio is determined to be 75 percent. She expects that inflation will average 3 percent for her entire life expectancy. She expects to earn 8 percent on her investments and retire at age 65, possibly living to age 95. She has sent for and received her Social Security benefit statement, which indicated that her Social Security retirement benefit in today’s dollars adjusted for early retirement is $20,000 per year. How much capital does Jordan need to retire at age 65?.

A method of estimating future demand usedfor decision making in order to set reasonable targets and control orlimit uncertainties or risks.

a buliding owned by hopewell company was recently  valued at 850,00 by a real estate expert , the president of the company is questioning the accuracy of the firms latest balance sheet  becuase it shows a book value of 550,000 for the building ,how would you explain a situation to the president.

Determine the optimal strategy for the situation by representing it as a game and finding the saddle point. State your final answer in the terms of the original question.A Republican and a Democratic candidate are running for office in a heavily Republican county. A recent newspaper poll comparing their views on taxes and welfare reform showed that when compared on taxes or on welfare reform, the Republican leads by 20%. When comparing the Democrat on welfare reform to the Republican on taxes, the Republican leads by 35%. But when comparing the Democrat on taxes to the Republican on welfare reform, the Republican leads by only 15%. Use this information to decide what each candidate should discuss at their next debate. (Let T represent taxes and W represent welfare reform.)   Democrat   T                W Republican    T       W    %    %  %    %   The saddle point is the  in row  and column  . What should each discuss at their…

Q1: Pat Jones is the general manager at Denny’s Muffler, which has 3 locations and 27 employees. Currently, the office manager at 3 stores put input their weekly sales results into a spreadsheet and e-mail that spreadsheet to Pat on Friday by noon. Each week, Pat handles between 120 to 350 records of sales data, and another 100 to 300 records of customer data. Pat would be like to keep track of weekly sales, which customers are associated with each sale, the parts used for each sale, what work was done for each customer at each sale, and which parts were used for each sale. If Pat wants to improve his efficiency and effectiveness, which of the following applications would be the best for collecting and storing Pat’s data? 1) Excel 2) SAP3) Access4) Minitab5) Teams6) MySQL

Q4. RKE & Associates is considering the purchase of a building it currently leases for $30,000 per year. The owner of the building put it up for sale at a price of $170,000, but because the firm has been a good tenant, the owner offered to sell it to RKE for a cash price of $160,000 now. If purchased now, how long will it be before the company recovers its investment at an interest rate of 15% per year?(Do not use excel)

Is there a need for four unique types of discrete event simulation?

Scenario analysis allows a firm to ask what - if type questions in capital budgeting. Question 22Select one: True False

What is the role of simulation techniques, such as Monte Carlo simulation, in system modeling, and provide real-world applications.

Question: Round Tree Manor is a hotel that provides two types of rooms with three rental classes: Super Saver, Deluxe, and Business. The profit per night for each type of room and rental class is as follows: Rental Class   Room Super Saver Deluxe Business Type I $35$ 37— Type II $24 $34$ 43     Type I rooms do not have wireless Internet access and are not available for the Business rental class. Round Tree's management makes a forecast of the demand by rental class for each night in the future. A linear programming model developed to maximize profit is used to determine how many reservations to accept for each rental class. The demand forecast for a particular night is 120 rentals in the Super Saver class, 65 rentals in the Deluxe class, and 40 rentals in the Business class. Round Tree has 105 Type I rooms and 115 Type II rooms. Use linear programming to determine how many reservations to accept in each rental class and how the reservations should be allocated to room types.…

5. Meg Jones, the CEO of Ajax Computer Company, and Brad Smith, its Director of Operations, had been discussing how to increase the firm’s production of the company’s flagship XR58. The XR58 was particularly important because it sold 12,500 of them in the most recent year for $950, at a gross margin of 55%. After a lot of discussion, they decided to pursue an incentive system designed to increase production by 12% in the next year. After Brad discussed this possible incentive with the production team, the team determined that it could increase production by this amount without adding any more people or equipment. They believed they could accomplish this improvement primarily through process redesign. To incent them to do the hard work of process improvement, Brad told the team that it would receive 25% of the increased profits if it met the new production goal. For this team of 20 people, this would mean an additional compensation of _________ for each team member, on average, for…

Scenario:2Ms. Amina is a legal secretary who has worked at an organization with powerful male boss for twenty years. She knows that there are no opportunities for advancement she decides to retire. She can always depend on her gender to secure another secretarial position, because nobody wants to hire a male secretary. In her opinion, even when women can secure jobs of a slightly higher caliber, there are typically jobs that don’t lead to leadership positions due to glass ceiling. Nor do these jobs offer a woman any notable significance as an employee of the company.Q3. What is the problem discussed in the scenario and what does Amina perceive as the cause for such problem?Q4. In your opinion, what policies of HR will protect the workforce against such barriers?Q5. As a young HR professional, if it is your responsibility to ensure that the company recruits competent people from all back grounds but it does not receive many applications from mature-age professionals or other minority…

What are the 7 steps to performed in simulation to analyze the problem?

46. You are making several runs of a simulation model,each with a different value of some decision variable(such as the order quantity in the Walton calendarmodel), to see which decision value achieves thelargest mean profit. Is it possible that one value beatsanother simply by random luck? What can you do tominimize the chance of a “better” value losing out toa “poorer” value?

OM. The company is considering whether or not they should drill the land. The cost of drilling is estimated to be $4 million. The company believes there are three possible findings after drilling the land: dry, wet and gushing. The probabilities for these outcomes are 0.5, 0.3 and 0.2, respectively. If the land is found to be dry, it obviously offers no profit. If the land is wet, it brings a potential profit of $10 million. If gushing, the potential profit from the land is $30 million. Answer the following questions, Q1 and Q2. Q1: Draw a decision tree to show the decision for this company based on the EMV criterion. Q2: The company has the option of using some new technology and equipment combined with seismic survey data to learn the presence of oil (dry, wet or gushing) before drilling the land. However, it requires $2.3 million investment for the technology, equipment, and required analysis. Is it worth eliminating uncertainty about finding the oil? Calculate EVPI to justify your…

Explain why Simulation is widely used technique in organzations ?

explain discrete -event simulation model with example.

Explain what does the simulation technique involves ?

Question: B) Identify The Economic Order Quanitity And Consider The Implications For Making An Error In Calculating Economic Order Quanitity. This problem has been solved! See the answer   b) Identify the economic order quanitity and consider the implications for making an error in calculating economic order quanitity.

#6) A group of medical professionals is considering constructing a private clinic. If a patient demand for the clinic is high, the physicians could realize a net profit of $120,000. If the demand is low, they could lose $55,000. Of course, they do not have to proceed at all, in which case there is no cost. In the absence of any market data, the best the physicians can guess is that there is a 50-50 chance the demand would be high. a) Create a decision tree. b) What should the medical professionals do? What is the payoff? c) The physicians have been approached by a market research firm that offers to perform a study of the market at a fee of $5,000. The market researchers claim that their experience enables them to use Bayes’ theorem to make the following statements of probability: -probability of high demand given a positive survey result = 0.82 -probability of low demand given a positive survey result = 0.18 -probability of high demand given a negative survey result = 0.11…

Eades Corp. has 9% annual coupon bonds that are callable and have 18 years left until maturity. The bonds have a par value of $1,000, and their current market price is $980.35. However, Eades Corp. may call the bonds in eight years at a call price of $1,060. What are the YTM and the yield to call (YTC) on Eades Corp.’s bonds?   Value YTM     ? YTC     ?

Hyewon Kim owns her own catering business. She continually monitors her other expense costs, including the cost of liability insurance for drivers of her catering vans. This year, Hyewon’s auto insurer advises her that insurance rates for her coverage will increase by 15 percent next year. The insurance company also states that if Hyewon will institute a preemployment drug-testing program for those employees who will drive her vans, there will be no insurance rate increase. Hyewon does not currently require potential employees to agree to be drug-tested prior to becoming employed in her business, but it is legal to do so in her state. What should Hyewon tell potential employees about her reason for implementing a preemployment drug-testing program? What should she do if a potential employee refuses to agree to the test?