expansion strategy and establishing a re order point word document and excel calculations
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.
Resources: Microsoft ExcelÂ®, Bell Computer Company Forecasts data set, Case Study Scenarios (Attached below for both Case Study and Excel Data Sets).
Write a 1,050-1,155-word report based on the Bell Computer Company Forecasts data set and Case Study Scenarios.(Both attached below; for word report my professor is very strict on keeping it within word count and will take off points if it goes over 10% or under, in other words keep it within 1,050-1,155 words exactly, excluding cover page and references).
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? (Please show how calculated in Excel and explain computations in word document report).
- 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? (Please show how calculated in Excel and explain computations in word document report).
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? Explain
Format your assignment consistent with APA format, include APA citations. No Plagiarism
Use direct web link site sources for references.