Question: please answer all part if question it due in 1hr it is one question just two picture frame I couldnt take the picture in one
please answer all part if question it due in 1hr

it is one question just two picture frame I couldnt take the picture in one frame
Question 2 20 points Save Answer Your company feels that more employees are needed to meet the labor demands of your manufacturing operation. There are three ways to satisfy the need for more direct hours of labor. One is to work overtime, the second is to add a night shift, and the third is to add new employees to your day shift operation. If business remains the same, your manufacturing operation will be more profitable with any of the options. However, if business decreases or increases the wisdom of the addition may not be justified. Management has estimated the probability that business will be worse, the same or better. Each has been assigned a probability. Your decision is to determine which is the best strategy to add human resources. The following table provides the probabilities and the payoffs for the three strategies. All payoff values are in thousands per month. Worse Probabilities 0.3 Same 0.3 Better 0.4 Overtime 2nd Shift Hire More 50 -80 -90 40 55 38 -60 50 80 Overtime 2nd Shift Hire More 50 80 -90 40 55 38 60 50 80 Answer the following questions. (Answer all to one decimal place) you chose the overtime option and business goes down, what is your payoff? avel design If If you chose the overtime option and business remains the same, what is your payoff? What is the EMV for the overtime option? What is the EMV for the 2nd shift option? What is the EMV for the "hire more employees" option? What is the EVwOPI? What is the EVwPi? What is the EVPI? What is the maximum that you could pay someone for perfect information about the business swings? Which options should the company adopt? (Overtime, 2nd, or Hire)
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