The Operations Manager for a Well-Drilling Company Must Recommend Whether

question 94

Multiple Choice

The operations manager for a well-drilling company must recommend whether to build a new facility, expand his existing one, or do nothing. He estimates that long-run profits (in $000) will vary with the amount of precipitation (rainfall) as follows: $$\begin{array} { | l | l | l | l | } \hline { \text { ALTERNATIVE } } & { \text { PRECIPITATION } } \\\hline& \text { LOW } & \text { NORMAL } & \text { HIGH } \\\hline \text { Do Nothing } & - 100 & 100 & 300 \\\hline \text { Expand } & 350 & 500 & 200 \\\hline \text { Build New } & 750 & 300 & 0 \\\hline\end{array}$$ If he uses the minimax regret criterion, which alternative will he decide to select?

• A) do nothing
• B) expand
• C) build new
• D) either do nothing or expand
• E) either expand or build new

Learn about the evolutionary basis for human adaptation to environments and its health implications.

Identify the evolutionary mechanisms driving the relationship between lifestyle diseases and modern society.

Understand how evolutionary principles apply to biological diversity and disease dynamics.

Understand the principles of live-virus vaccine development and safety mechanisms.

---

Definitions:

Regional Sales Managers

Individuals responsible for overseeing and directing the sales activities within a specific geographic region, aiming to achieve sales targets and expand market reach.

Marketing Research Approach

A methodology for gathering, analyzing, and interpreting information to help make marketing decisions.

Planning Gap

The difference between an organization's current situation and its desired future state, identifying where strategic actions are needed.

Target Market

The specific group of consumers at which a company aims its products and services, characterized by specific demographics, interests, and needs.