Management Science The Art Of Modeling With Spreadsheets 4th Edition Stephen G. Powell, Kenneth R. Baker - Solutions

A firm is trying to decide whether to enter a highly uncertain market now or to wait to decide two years from now, when the size of the market will be less uncertain. If it enters now it must invest $3 billion, while if it waits to invest two years from now the costs will rise to $4 billion. The
Lang Drug needs to determine the proper capacity level for a new drug, Niagara. Its goal is to maximize the expected NPV earned from the drug during years 0-14, assuming a discount rate of 10 percent per year. It costs $10 to build enough capacity to produce one unit of drug per year. All
You have been asked to interview candidates for an open secretarial position. Each candidate's qualifications for the job can be modeled with a lognormal distribution with a mean of 10 and a standard deviation of 5. Unfortunately, you must decide whether to offer the job to each candidate in turn
A large retailer of kitchen appliances has asked you for advice on how much to stock and how to price leftovers of its products. Here's a typical situation: Demand for espresso machines in the northeast region runs about 2,000 per year (with a standard deviation of 500). They cost the retailer $20

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