Business, 02.06.2020 15:57 vildhjap42ges

A banana costs $0.50 and a piece of candy costs $0.25 at the local cafeteria. You have $1.25 in your pocket and you value money. The money-equivalent value (payoff ) you get from eating your first banana is $1.20, and that of each additional banana is half the previous one (the second banana gives you a value of $0.60, the third $0.30, and so on). Similarly the payoff you get from eating your first piece of candy is $0.40, and that of each additional piece is half the previous one ($0.20, $0.10, and so on). Your value from eating bananas is not affected by how many pieces of candy you eat and vice versa.
Required:
a. What is the set of possible actions you can take given your budget of $1.25?
b. Draw the decision tree that is associated with this decision problem.
c. Should you spend all your money at the cafeteria? Justify your answer with a rational choice argument.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 00:30

Needs to schedule the staffing of the center. it is open from 8am until midnight. larry has monitored the usage of the center at various times of the day and determined that the following number of computer consultants are required: time of dayminimum number of consultants required to be on duty8 am-noon4noon-4 pm84pm-8pm108pm-midnight6 two types of computer consultants can be hired: full-time and part-time. the full- time consultants work for eight consecutive hours in any of the shifts: morning (8am- 4pm), afternoon (noon-8pm) and evening (4pm-midnight). full-time consultants are paid $14 per hour. part-time consultants can be hired to work any of the four shifts listed in the table. part-time consultants are paid $12 per hour. an additional requirement is that during every time period, there must be at least two full-time consultants on duty for every part-time consultant on duty. larry would like to determine how many full-time and part-time consultants should work each shift to meet the above requirements at the minimum possible cost. formulate this as an lp problem. you must define your variables clearly

Answers: 2

Answer

Business, 22.06.2019 19:20

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.

Answers: 1

Answer

Business, 23.06.2019 11:00

What are the factors that affects on the process of planning

Answers: 3

Answer

Business, 23.06.2019 11:20

When electra produced its bikes in taiwan did the company have to follow the laws of taiwan or the laws of the us

Answers: 3

Answer

You know the right answer?

A banana costs $0.50 and a piece of candy costs $0.25 at the local cafeteria. You have $1.25 in your...