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1)How has globalism put challenges into the mix for HRM? What are some of the challenges that we see with global HRM? 1 page
2) How does the legal aspect factor into HRM duties and how important is understanding these? 2 pages
LASELL COLLEGE
OPERATIONS MANAGEMENT BUSS 232
Decision Tree Problem
Jessica has been awarded a contract to produce dresses of her design by a small retail chain. The chain will take delivery of 50 dresses right now. But future releases will depend on actual sales.
The chain has provided a set of estimates of sales for the upcoming year:
|
Demand |
# of Dresses * |
Probability |
|
|
Low |
1000 |
30% |
|
|
Medium |
2000 |
40% |
|
|
High |
3000 |
* includes the 50 already released.
Jessica has 3 options:
A: make the dresses herself, no fixed costs, profit will be $10.00 per dress.
B: buy equipment and hire part time help; equipment costs will be $5,000, profit
per dress will be $15.00.
C: contract out to a sewing shop, up front is a one time cost of $10,000, profit per
dress will be $20.00.
Question: which option should Jessica select?
Payout table and Decision Tree are required.
Hint: Decision tree will have 3 major branches and each major branch will have 3 branches.
LASELL COLLEGE
MGMT 707 OPERATIONS MANAGEMENT
“Leasing a Car”.
Amy is interested in leasing a new Saab and has contacted 3 automobile dealers for pricing information. Each dealer has offered a closed end 36 month lease with no down payment due at the time of signing. Each lease includes a monthly charge and a mileage allowance. Additional miles receive a surcharge on a per mile basis. The following table details the charges.
|
Dealer |
Monthly |
Mileage |
Cost per |
|
|
Charge |
Allowance |
Additional Mile |
||
|
Forno Saab |
$299 |
36,000 |
$0.15 |
|
|
Midtown Motors |
$310 |
45,000 |
$0.20 |
|
|
Hopkins Auto |
$325 |
54,000 |
Amy wants to minimize her total 36 month lease. The problem is that Amy is not sure of how many miles she will drive over the next 3 years. Amy estimates that there is a 50% chance that she will drive 12,000 miles per year, a 40% chance that she will drive 15,000 miles and a 10% chance she will drive 18,000 miles per year.
Prepare a decision tree showing the total cost for each option.
What dealer’s lease option should Amy choose?
Hint: there are 3 main branches and 3 secondary branches.
