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Trey Leeman, Operations Manager at National Consumers, Inc The Opportunity Loss for the Combination "Purchase New Equipment" and Alternatives

question 43

Multiple Choice

Trey Leeman, Operations Manager at National Consumers, Inc.(NCI) , is evaluating alternatives for increasing capacity at NCI's Fountain Hill plant.He has identified four alternatives, and has constructed the following payoff table which shows payoffs (in $1,000,000's) for the three possible levels of market demand. $\begin{array}{r}\text { Market Demands }\\ \begin{array}{|c|c|c|c|}\hline \text { Alternative } & \text { Low } & \text { Medium } & \text { High } \\\hline \text { Lease New Equipment } & -0.5 & 2 & 4 \\\hline \text { Purchase New Equipment } & -3 & 0.5 & 6 \\\hline \text { Add Third Shift } & 0.5 & 0.75 & 1 \\\hline \text { Do Nothing } & 0 & 0 & 0 \\\hline \end{array}\end{array}$

The opportunity loss for the combination "Purchase New Equipment" and "Low" is ____.

Grasp the concepts of retribution and its role in the justice system.

Understand deterrence theory and its advocates.

Differentiate types of deterrence in the context of punishment.

Understand the concept and implications of indeterminate sentences in rehabilitation.

Definitions:

Congressional

Pertaining to or characteristic of a formal legislative body that governs a nation, particularly in relation to the United States Congress.

Patronage

The support, encouragement, privilege, or financial aid that an organization or individual bestows to another; in politics, often refers to the appointment of individuals to government positions based on their support of a party or candidate rather than on their qualifications.

Civil Service

A body of employees in the public sector employed by governmental departments and agencies, excluding armed forces and political appointments.

Cabinet Members

High-ranking government officials who serve in the executive branch, typically heading executive departments and advising the President.