And open system organization is open because of ______.
A. its dependence on the environment in which it resides
B. avoiding interaction with the environment in which it resides
C. existing only in the world of nonliving matter
D. expelling energy from get into the environment
A. its dependence on the environment in which it resides
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A recommended approach to dealing with criticism is to act as if you are a detached observer looking for useful information
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For a set of numerical data, the geometric mean is the nth root of the sum of the n observations
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An appliance dealer must decide how many (if any) new microwave ovens to order for next month. The ovens cost $220 and sell for $300. Because the oven company is coming out with a new product line in two months, any ovens not sold next month will have to be sold at the dealer's half price clearance sale. Additionally, the appliance dealer feels he suffers a loss of $25 for every oven demanded when he is out of stock. On the basis of past months' sales data, the dealer estimates the probabilities of monthly demand (D) for 0, 1, 2, or 3 ovens to be 0.3, 0.4, 0.2, and 0.1, respectively.
The dealer is considering conducting a telephone survey on customers' attitudes towards microwave ovens. The results of the survey will either be favorable (F), unfavorable (U), or no opinion (N). The dealer's probability estimates for the survey results based on the number of units demanded are:
a. What is the dealer's optimal decision without conducting the survey?
b. What is the EVPI?
c. Based on the survey results, what is the optimal decision strategy for the dealer?
d. What is the maximum amount he should pay for this survey?
Junior Snacks reports the following information from its sales budget: ?Expected sales:October$143,000 ? November 151,000 ? December 187,000 ?? All sales are on credit and are expected to be collected 40% in the month of sale and 60% in the month following sale. The total amount of cash expected to be received from customers in November is:
A. $85,800. B. $151,000. C. $60,400. D. $146,200. E. $236,800.