I need help with my QNT 561 Week Three Individual Assignment
I need help with my QNT 561 Week Three Individual Assignment
QNT 561 WEEK THREE INDIVIDUAL
Expansion Strategy and Establishing a Re-Order Point
oDue Oct 29, 6:00 PM (PST)
oNot Submitted
oPOINTS 5
- Team Report
- no new messages
Objectives:
- 2.3
- 2.5
Purpose of Assignment
This assignment has two cases. 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 ~750-word report based on 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 a managerial report.
Note: pay special attention to your reporting, even of an excel sheet. Treat it as a report you are submitting to a coleague or supervisor who is infinitely ignorant and infinitly intelligent. Do not let the reader “pick and choose” the relevant parts. Include only what is relevant, in a crystal clear fashion.
Click the Assignment Files tab to submit your assignment.
Note: Grades are awarded based upon individual contributions to the Learning Team assignment. Each Learning Team member will receive a grade based upon his/her contributions to the team assignment at large (see team participation and contribution assignment in week 6). Not all students may receive the same grade for the team assignments. See instructor’s poolicies document and the above mentioned week 6 assignment for team effort grading principles.
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