This topic contains a solution. Click here to go to the answer

Author Question: The construction manager for Acme Construction, Inc. must decide whether to build single family ... (Read 84 times)

Pineappleeh

  • Hero Member
  • *****
  • Posts: 585
The construction manager for Acme Construction, Inc. must decide whether to build single family homes, apartments, or condominiums. This is not a product-mix problem, but an all-or nothing decision. He will hire workers and rent equipment appropriate for one action only. He estimates annual profits (in thousands of dollars) will vary with population trends as follows:

Dwelling typePopulation steadyPopulation grows slowlyPopulation grows rapidly
Single family$100$90$70
Apartments5017090
Condominiums-20100220

a. If he uses the maximin criterion, which type of dwellings will he choose to build? Show your supporting calculations.
b. If he uses the equally likely criterion, which kind of dwellings will he choose to build? Show your supporting calculations.
c. If the construction manager were an optimist, what criterion would he choose? What would be the choice of dwelling for that criterion? Show your supporting calculations.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Pineappleeh on Dec 3, 2019

qytan

  • Sr. Member
  • ****
  • Posts: 336
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly




Pineappleeh

  • Member
  • Posts: 585
Reply 2 on: Dec 3, 2019
:D TYSM


kswal303

  • Member
  • Posts: 316
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

For a complete list of videos, visit our video library