Operations Fundamentals Final Exam Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Problem 1

a) The real estate investor should make investment in the Motel if he follows anoptimistic approach.

b) The real estate investor should make an investment in the Theatre if he follows a conservative approach.

c) The real estate investor should choose to invest in the Motelbased upon a neutral approach

d) Based upon the Mini-max regret approach, the investor will have to become the best from the worst for each alternative, which in this case is Motel.

Problem 3

d) The rental limit constraint is decreased from 50 to 40, therefore there would be no impact upon the earnings and they would remain at their current level.

e) The constraint limit for rental space is less than or equal to 50 however, it can still not be negative. Therefore, this might not be appropriate when the decision variables relate to the number of the storage units developed.

Problem 9

Operations Fundamentals Final Exam Case Solution

1	RNI was generated using the RAND() function
2	Interval time was computed based upon the ranges of the probabilities between time intervals
3	Arrival clock time is the cumulative inter-arrival time
4	Entirefacility clock is the cumulative of the probable inter-arrival time
5	Waiting time is the difference between arrival clock time and enter facility clock
6	RN2 was generated using the RAND() function
7	Service time was computed based upon the ranges of the probabilities between service time intervals
8	Departure clock time is the cumulative service time
9	Time in system is the difference between arrival clock and departure clock

	The two reasons due to which the numbers calculated in the above parts might not be justified are:
1	The use of RANDBETWEE() function might not give the correct results
2	The probabilities might not be right for time arrivals and service times