This assignment has two cases. You have to select one case for this assignment. The first case is on expansion strategy. Managers constantly have to make decisions under uncertainty. This assignment gives students an opportunity to use the mean and standard deviation of probability distributions to make a decision on expansion strategy. The second case is on determining at which point a manager should re-order a printer so he or she doesn’t run out-of-stock. The second case uses normal distribution. The first case demonstrates application of statistics in finance and the second case demonstrates application of statistics in operations management.
Assignment Steps
Resources: Microsoft Excel®, Bell Computer Company Forecasts data set, Case Study Scenarios
Write a 500-word report based on selected case from the Bell Computer Company Forecasts data set and Case Study Scenarios.
Include answers to the following:
Case 1: Bell Computer Company
- Compute the expected value for the profit associated with the two expansion alternatives. Which decision is preferred for the objective of maximizing the expected profit?
- Compute the variation for the profit associated with the two expansion alternatives. Which decision is preferred for the objective of minimizing the risk or uncertainty?
Case 2: Kyle Bits and Bytes
- What should be the re-order point? How many HP laser printers should he have in stock when he re-orders from the manufacturer?
Format your assignment consistent with APA format.
Submit your assignment.
Resources
- Expansion Strategy and Establishing a Re-Order Point Grading Guide
- Center for Writing Excellence
- Reference and Citation Generator
- Grammar and Writing Guides
Purpose of Assignment
This assignment has two cases. You have to select one case for this assignment. The first case is on expansion strategy. Managers constantly have to make decisions under uncertainty. This assignment gives students an opportunity to use the mean and standard deviation of probability distributions to make a decision on expansion strategy. The second case is on determining at which point a manager should re-order a printer so he or she doesn’t run out-of-stock. The second case uses normal distribution. The first case demonstrates application of statistics in finance and the second case demonstrates application of statistics in operations management.
Assignment Steps
Resources: Microsoft Excel®, Bell Computer Company Forecasts data set, Case Study Scenarios
Write a 500-word report based on selected case from the Bell Computer Company Forecasts data set and Case Study Scenarios.
Include answers to the following:
Case 1: Bell Computer Company
Compute the expected value for the profit associated with the two expansion alternatives. Which decision is preferred for the objective of maximizing the expected profit?
Compute the variation for the profit associated with the two expansion alternatives. Which decision is preferred for the objective of minimizing the risk or uncertainty?
Case 2: Kyle Bits and Bytes
What should be the re-order point? How many HP laser printers should he have in stock when he re-orders from the manufacturer?
Format your assignment consistent with APA format.
Submit your assignment.
Resources
Expansion Strategy and Establishing a Re-Order Point Grading Guide
Center for Writing Excellence
Reference and Citation Generator
Grammar and Writing Guides
This assignment has two cases. You have to select one case for this assignment. The first case is on expansion strategy. Managers constantly have to make decisions under uncertainty. This assignment gives students an opportunity to use the mean and standard deviation of probability distributions to make a decision on expansion strategy. The second case is on determining at which point a manager should re-order a printer so he or she doesn’t run out-of-stock. The second case uses normal distribution. The first case demonstrates application of statistics in finance and the second case demonstrates application of statistics in operations management.
Assignment Steps
Resources: Microsoft Excel®, Bell Computer Company Forecasts data set, Case Study Scenarios
Write a 500-word report based on selected case from the Bell Computer Company Forecasts data set and Case Study Scenarios.
Include answers to the following:
Case 1: Bell Computer Company
Compute the expected value for the profit associated with the two expansion alternatives. Which decision is preferred for the objective of maximizing the expected profit?
Compute the variation for the profit associated with the two expansion alternatives. Which decision is preferred for the objective of minimizing the risk or uncertainty?
Case 2: Kyle Bits and Bytes
What should be the re-order point? How many HP laser printers should he have in stock when he re-orders from the manufacturer?
Format your assignment consistent with APA format.
Submit your assignment.
Resources
Expansion Strategy and Establishing a Re-Order Point Grading Guide
Center for Writing Excellence
Reference and Citation Generator
Grammar and Writing Guides
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The Assignment’s Goal
There are two scenarios in this assignment. For this project, you must choose one case. The first scenario involves a growth plan. Managers are continually faced with making judgments in the face of uncertainty. Students can use the mean and standard deviation of probability distributions to decide on an expansion plan in this project. The second scenario involves deciding when a management should reorder a printer to avoid running out of supply. The normal distribution is used in the second scenario. The first scenario shows how statistics can be used in finance, while the second case shows how statistics can be used in operations management.
Steps to completing the assignment
Case Study Scenarios, Microsoft Excel®, Bell Computer Company Forecasts data set
Prepare a 500-word report based on a case study.
