Questions from Business Analytics

Q: UOB Bank receives a significant number of housing loan applications each month

UOB Bank receives a significant number of housing loan applications each month, with an average of 5,000 and a standard deviation of 463, normally distributed. The application approval rate varies bet...

Q: Sturgill Manufacturing Inc. needs to predict the numbers of machines and

Sturgill Manufacturing Inc. needs to predict the numbers of machines and employees required to produce its planned production for the coming year. The plant runs three shifts continuously during the w...

Q: O’Brien Chemicals makes three types of products: industrial cleaning, chemical

O’Brien Chemicals makes three types of products: industrial cleaning, chemical treatment, and some miscellaneous products. Each is sold in 55-gallon drums. The selling price and unit...

Q: The board of directors of Bolt Electric Vehicles (BEV) is

The board of directors of Bolt Electric Vehicles (BEV) is considering replacing its original model, the BEV-Neo, with a new model, the BEV-Alpha, which they feel will appeal to the younger demographic...

Q: The weekly demand of a slow-moving product has the following

The weekly demand of a slow-moving product has the following probability mass function: Use VLOOKUP to generate 25 random variates from this distribution.

Q: Malaysia’s state water tariffs are one of the cheapest in comparison to

Malaysia’s state water tariffs are one of the cheapest in comparison to its neighbor countries. The cost of a meter installation is RM10 per household. The daily cost of supplying water is assumed to...

Q: A regional tax preparation firm competes with such national chains as H

A regional tax preparation firm competes with such national chains as H&R Block. It is considering expanding and needs a financial model to analyze the decision to open a new store. Key factors affect...

Q: For the profit model developed, suppose that the demand is uniform

For the profit model developed, suppose that the demand is uniform with a minimum of 35,000 and maximum of 60,000; fixed costs are normal with a mean of $400,000 and a standard deviation of $25,000; a...

Q: Use the Newsvendor Model spreadsheet to set up and run a Monte

Use the Newsvendor Model spreadsheet to set up and run a Monte Carlo simulation assuming that demand is triangular with minimum value = 40, maximum value = 50, and most likely value = 47. Find the dis...

Q: The Excel file Payroll Data provides hourly salaries for a group of

The Excel file Payroll Data provides hourly salaries for a group of employees. Create an Excel template that allows the user to select an employee by employee ID, enter the number of regular hours and...