GSCM 209 Week 6 Quiz

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GSCM 209 Week 6 Quiz

1. (TCO 14) What are five of the six steps in an operations decision-making process?(Points : 10)
2. (TCOs 10, 11, and 12) Bob’s Claymart has enough clay to make 24 small vases or six large vases. He has only enough of a special glazing compound to glaze 16 of the small vases or eight of the large vases. Let X1 = the number of small vases and X2 = the number of large vases. The smaller vases sell for \$6 each, and the larger vases bring \$13 each.
Formulate the problem’s objective function, constraints, and solve for the maximum profit mix.
(Points : 30)

1. (TCOs 13 and 14) Consider the following decision table, which Bob White has developed for GoSlow Enterprises.

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 Decision Probability 0.2 0.5 0.3 Alternatives Low Medium High A \$50 \$100 \$60 B \$65 \$60 \$70 C \$90 \$70 \$80 D \$90 \$75 \$70 E \$75 \$65 \$80

Which decision alternative maximizes the expected value of the payoff?
(Points : 30)