Bratt's Bed and Breakfast, in a small historic New England town, must decide how to subdivide (remodel) the large old home that will become inn. There are three alternatives: Option A would modernize all baths an combine rooms, leaving the inn with four suites, each suitable for two to four adults. Option B would modernize only the second floor; the results would be six suites, four for two to four adults, and two for two adults only. Option C (the status quo option) leaves all walls intact. In this case, there are eight rooms available, but only two are suitable for four adults, and four rooms will not have private baths. Below are the details of profit and demand patterns that will accompany each option. Which option has the highest expected value?
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- James Lawson's Bed and Breakfast, in a small historicMississippi town, must decide how to subdivide (remodel) the largeold home that will become its inn . There are three alternatives:Option A would modernize all baths and combine rooms, leavingthe inn with four suites, each suitable for two to four adults.Option B would modernize only the second floor; the results wouldbe six suites, four for two to four adults, two for two adults only.Option C (the status quo option) leaves all walls intact. In this case,there are eight rooms available, but only two are suitable for fouradults, and four rooms will not have private baths. The details ofprofit and demand patterns that will accompany each option are: Which option has the highest expected monetary value?6. Does a planned shopping center have a self-contained retail facility constructed by independent owners and consisting of various stores? Does it have types of planned shopping centers that include lifestyle shopping centers, neighborhood shopping centers, community shopping centers, and regional shopping centers? Why or why not?The Sleepy Edge is a 40-unit, no-frills operation in the less scenic part of a major Queensland resort town. The owner, Mr. Smith, firmly believes that there is a need for his style of low-cost family accommodation amid the luxury and beauty of the area. His rooms are large, family-style rooms (there is no television, for example). Although there is plenty of room for future expansion, the grounds are fairly bare with a bit of landscaping, but mostly grass. Mr. Smith can serve breakfast to the rooms and provides tea-making facilities. There are now a lot of good restaurants and take-aways in the area. Mr.. Smith’s prices are less than half of what similar motels charge and only a fraction of what the big five-star properties are charging. And, really, he isn’t all that far away from the beach, shops and other attractions. The problem is occupancy. He has some regulars who come every holiday period (and have been doing so for the four years he has owned the property). Overall, occupancy…
- A Town Council has decided to build a new community center to be used for conventions, concerts, and other public events, but considerable controversy surrounds the appropriate size. Many influential citizens want a large center that would be a showcase for the area, but the mayor feels that if demand does not support such a center, the community will lose a large amount of money. To provide structure for the decision process, the council narrowed the building alternatives to three sizes: small, medium, and large. Everybody agreed that the critical factor in choosing the best size is the number of people who will want to use the new facility. A regional planning consultant provided demand estimates under three scenarios: worst case, base case, and best case. The worst-case scenario corresponds to a situation in which tourism drops significantly; the base-case scenario corresponds to a situation in which the town continues to attract visitors at current levels; and the best-case…A Town Council has decided to build a new community center to be used for conventions, concerts, and other public events, but considerable controversy surrounds the appropriate size. Many influential citizens want a large center that would be a showcase for the area, but the mayor feels that if demand does not support such a center, the community will lose a large amount of money. To provide structure for the decision process, the council narrowed the building alternatives to three sizes: small, medium, and large. Everybody agreed that the critical factor in choosing the best size is the number of people who will want to use the new facility. A regional planning consultant provided demand estimates under three scenarios: worst case, base case, and best case. The worst-case scenario corresponds to a situation in which tourism drops significantly; the base-case scenario corresponds to a situation in which the town continues to attract visitors at current levels; and the best-case…8. Emily needs to estimate the annual labor and material cost for a new facility. The data obtained were Labor cost index was 120 ten years ago and 190 today. Annual labor cost for a similar production facility was $602,004 ten years ago. Material cost index was 544 four years ago and 712 today. Annual material cost for a similar production facility was $2,455,000 four years ago. Estimate the annual labor cost and annual material cost for the new facility.
- 4.) After 10 years of production, the chemical manufacturing plant has become very successful. Because of its success, a great demand for products came as many consumers wanted the company to sell them their products. To meet the demand, three alternatives were considered. Work overtime to meet demands. Annual overtime expenses are $500,000. Expand the plant to accommodate more production. Fixed annual expenses are $2,500,000. Make a contract with another company to produce additional products at a rate of $1,000,000. The cost of manufacturing products from the three alternatives are $3500, $3000 and $3250 per unit respectively. The plant sells every unit made regardless of how they were made at $15,000 per unit. The expected demand for the product is 150 units with a probability of 50% 250 units with a probability of 35% 350 units with a probability of 7.5% 400 units with a probability of 5% 500 units with a probability of 2.5%Calculations: 1. You are valuing a 10-acre vacant lot with a septic system and a well on site. The size adjustment factor for 10 acres is 2.23. You have found two recent sales to use as comparables. -Sale 1 is 3.5 acres in size and has a septic system and a well on site. It sold for $200,000. The corresponding size adjustment factor for 3.5 acres is 1.57. -Sale 2 is 7 acres in size and sold for $225,000. However, it does not have a septic system or a well, which will cost $50,000 total to install. The corresponding size adjustment factor for 7 acres is 1.93. CALCULATE THE RANGE OF THE VALUE OF THE 10-ACRE VACANT LOT ADJUSTED FOR SIZE, ROUNDED TO THE NEAREST $1,000. SHOW YOUR WORKTechno Corporation is currently manufacturing an item atvariable costs of $5 per unit. Annual fixed costs of manufac-turing this item are $140,000. The current selling price ofthe item is $10 per unit, and the annual sales volume is30,000 units.a. Techno can substantially improve the item’s quality byinstalling new equipment at additional annual fixed costsof $60,000. Variable costs per unit would increase by $1,but, as more of the better-quality product could be sold,the annual volume would increase to 50,000 units. ShouldTechno buy the new equipment and maintain the currentprice of the item? Why or why not?b. Alternatively, Techno could increase the selling price to$11 per unit. However, the annual sales volume wouldbe limited to 45,000 units. Should Techno buy the newequipment and raise the price of the item? Why orwhy not?
- A Town Council has decided to build a new community center to be used for conventions, concerts, and other public events, but considerable controversy surrounds the appropriate size. Many influential citizens want a large center that would be a showcase for the area, but the mayor feels that if demand does not support such a center, the community will lose a large amount of money. To provide structure for the decision process, the council narrowed the building altematives to three sizes: small, medium, and large. Everybody agreed that the critical factor in choosing the best size is the number of people who will want to use the new facility. A regional planning consultant provided demand estimates under three scenarios: worst case, base case, and best case. The worst-case scenario corresponds to a situation in which tourism drops significantly; the base-case scenario corresponds to a situation in which the town continues to attract visitors at current levels; and the best-case scenario…A Town Council has decided to build a new community center to be used for conventions, concerts, and other public events, but considerable controversy surrounds the appropriate size. Many influential citizens want a large center that would be a showcase for the area, but the mayor feels that if demand does not support such a center, the community will lose a large amount of money. To provide structure for the decision process, the council narrowed the building altematives to three sizes: small, medium, and large. Everybody agreed that the critical factor in choosing the best size is the number of people who will want to use the new facility. A regional planning consultant provided demand estimates under three scenarios: worst case, base case, and best case. The worst-case scenario corresponds to a situation in which tourism drops significantly; the base-case scenario corresponds to a situation in which the town continues to attract visitors at current levels; and the best-case scenario…A firm plans to begin production of a new small appliance. The manager must decide whether to purchase the motors for the appliance from a vendor at $7 each or to produce them in-house. Either of two processes could be used for in-house production; Process A would have an annual fixed cost of $180,000 and a variable cost of $6 per unit, and Process B would have an annual fixed cost of $190,000 and a variable cost of $5 per unit. Determine the range of annual volume for which each of the alternatives would be best.