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This course is in Introduction in Business Management Science, 10th Edition. Need question answered by Friday and no later than Saturday, October 17, 2014 at 12:00pm. Please provide all answers and solution from QM4 or Microsoft Excel. The files attached to solve the probmems.
(A) Sal's International is a popular haircutting and styling salon near the campus of the University of New Orleans. Four barbers work full-time and spend an average of 15 minutes per customer. Customers arrive throughout the day at an average rate of 12 each hour. All arriving customers are assigned a waiting number. Arrivals tend to follow the Poisson distribution, while service time is exponentially distributed. Assuming an infinite population source, determine the following:
1. What is the average number of customers in the salon?
2. What is the average time that a customer spends in the salon?
3. What is the average time a customer spends waiting to be attended?
4. What is the average number of customers waiting to be attended?
(B) Sal is now considering changing the queuing characteristics of his salon. Upon arrival, instead of being assigned waiting numbers, customers will be able to choose the barbers they prefer. Assuming this selection does not change while the customers are waiting for their barbers to become available and the requests for each of the four barbers are evenly distributed, answer the following:
1. What is the average number of customers in the salon?
2. What is the average time that a customer spends in the salon?
3. What is the average time a customer spends waiting to be attended?
4. What is the average number of customers waiting to be attended?
(C) Explain why the results from parts A and B are different.
Rob Johnson is a product manager at Diamond Chemicals, which is considering whether to launch a new product line that will require it to build a new facility. The technology required to produce the new product is yet untested. If Rob decides to build the new facility and the process is successful, Diamond Chemicals will realize a profit of \$650,000. If the process does not succeed, the company will lose \$800,000. Rob estimates that there is 60% probability that the process will succeed.
Rob can also decide to build a pilot plant for \$50,000 to test the new process before deciding to build the full-scale facility. If the pilot plant succeeds, Rob feels there is 85% chance of the success of the full-scale facility. If the pilot plant fails, Rob feels there is only 20% chance of the success of the full-scale facility. The probability that the pilot plant will succeed is approximately 60%. Structure this problem using a decision tree and advise Rob what to do.
The references below will help you create a decision tree by using the Excel add-in, Treeplan. Treesamp.xls is a sample case with examples of decision trees, treeplan.pdf contains detailed instructions for using the Treeplan add-in, and treeplan.zip is the Excel add-in. When opening treeplan.zip, be sure to select Save As in order to save the file to your computer. After opening the file, select Enable Macros, click the Add-Ins tab, and then select Decision Tree in the Menu Commands group. To get started, you must have an active Excel worksheet open.
DriveTek Research Institute discovers that a computer company wants a new tape
drive for a proposed new computer system. Since the computer company does not
have research people available to develop the new drive, it will subcontract the
development to an independent research firm. The computer company has offered a
fee of \$250,000 for the best proposal for developing the new tape drive. The contract
will go to the firm with the best technical plan and the highest reputation for technical
competence.
DriveTek Research Institute wants to enter the competition. Management estimates
a cost of \$50,000 to prepare a proposal with a fifty-fifty chance of winning the
contract.
However, DriveTek's engineers are uncertain about how they will develop the tape
drive if they are awarded the contract. Three alternative approaches can be tried.
The first approach is a mechanical method with a cost of \$120,000, and the
engineers are certain they can develop a successful model with this approach. A
second approach involves electronic components. The engineers estimate that the
electronic approach will cost only \$50,000 to develop a model of the tape drive, but
with only a 50 percent chance of satisfactory results. A third approach uses
magnetic components; this costs \$80,000, with a 70 percent chance of success.
DriveTek Research can work on only one approach at a time and has time to try only
two approaches. If it tries either the magnetic or electronic method and the attempt
fails, the second choice must be the mechanical method to guarantee a successful
model.
The management of DriveTek Research needs help in incorporating this information
into a decision to proceed or not.
The tutorial tab has step-by-step instructions for building the DriveTek decision tree.

From: Richard Oct 13, 2014 03:11 PM

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Horace Hogan Oct 13, 2014 03:09 PM

This course is in Introduction in Business Management Science, 10th Edition. Need question answered by Friday and no later than Saturday, October 17, 2014 at 12:00pm. Please provide all answers and solution from QM4 or Microsoft Excel. The files attached to solve the probmems.
(A) Sal's International is a popular haircutting and styling salon near the campus of the University of New Orleans. Four barbers work full-time and spend an average of 15 minutes per customer. Customers arrive throughout the day at an average rate of 12 each hour. All arriving customers are assigned a waiting number. Arrivals tend to follow the Poisson distribution, while service time is exponentially distributed. Assuming an infinite population source, determine the following:
1. What is the average number of customers in the salon?
2. What is the average time that a customer spends in the salon?
3. What is the average time a customer spends waiting to be attended?
4. What is the average number of customers waiting to be attended?
(B) Sal is now considering changing the queuing characteristics of his salon. Upon arrival, instead of being assigned waiting numbers, customers will be able to choose the barbers they prefer. Assuming this selection does not change while the customers are waiting for their barbers to become available and the requests for each of the four barbers are evenly distributed, answer the following:
1. What is the average number of customers in the salon?
2. What is the average time that a customer spends in the salon?
3. What is the average time a customer spends waiting to be attended?
4. What is the average number of customers waiting to be attended?
(C) Explain why the results from parts A and B are different.
Rob Johnson is a product manager at Diamond Chemicals, which is considering whether to launch a new product line that will require it to build a new facility. The technology required to produce the new product is yet untested. If Rob decides to build the new facility and the process is successful, Diamond Chemicals will realize a profit of \$650,000. If the process does not succeed, the company will lose \$800,000. Rob estimates that there is 60% probability that the process will succeed.
Rob can also decide to build a pilot plant for \$50,000 to test the new process before deciding to build the full-scale facility. If the pilot plant succeeds, Rob feels there is 85% chance of the success of the full-scale facility. If the pilot plant fails, Rob feels there is only 20% chance of the success of the full-scale facility. The probability that the pilot plant will succeed is approximately 60%. Structure this problem using a decision tree and advise Rob what to do.
The references below will help you create a decision tree by using the Excel add-in, Treeplan. Treesamp.xls is a sample case with examples of decision trees, treeplan.pdf contains detailed instructions for using the Treeplan add-in, and treeplan.zip is the Excel add-in. When opening treeplan.zip, be sure to select Save As in order to save the file to your computer. After opening the file, select Enable Macros, click the Add-Ins tab, and then select Decision Tree in the Menu Commands group. To get started, you must have an active Excel worksheet open.
DriveTek Research Institute discovers that a computer company wants a new tape
drive for a proposed new computer system. Since the computer company does not
have research people available to develop the new drive, it will subcontract the
development to an independent research firm. The computer company has offered a
fee of \$250,000 for the best proposal for developing the new tape drive. The contract
will go to the firm with the best technical plan and the highest reputation for technical
competence.
DriveTek Research Institute wants to enter the competition. Management estimates
a cost of \$50,000 to prepare a proposal with a fifty-fifty chance of winning the
contract.
However, DriveTek's engineers are uncertain about how they will develop the tape
drive if they are awarded the contract. Three alternative approaches can be tried.
The first approach is a mechanical method with a cost of \$120,000, and the
engineers are certain they can develop a successful model with this approach. A
second approach involves electronic components. The engineers estimate that the
electronic approach will cost only \$50,000 to develop a model of the tape drive, but
with only a 50 percent chance of satisfactory results. A third approach uses
magnetic components; this costs \$80,000, with a 70 percent chance of success.
DriveTek Research can work on only one approach at a time and has time to try only
two approaches. If it tries either the magnetic or electronic method and the attempt
fails, the second choice must be the mechanical method to guarantee a successful
model.
The management of DriveTek Research needs help in incorporating this information
into a decision to proceed or not.
The tutorial tab has step-by-step instructions for building the DriveTek decision tree. 232710_1_Wk5A1.docx 232710_2_wk5A2.docx 232710_3_treesamp.xls 232710_4_wk5treeplan.pdf 232710_5_wk5treeplan2.pdf