East West Distributing is in the process of trying to determine where they should schedule next year's production of a popular line of kitchen utensils that they distribute.Manufacturers in four different countries have submitted bids to East West.However,a pending trade bill in Congress will greatly affect the cost to East West due to proposed tariffs,favorable trading status,etc.
After careful analysis,East West has determined the following cost breakdown for the four manufacturers (in $1,000's)based on whether or not the trade bill passes:
a.If East West estimates that there is a 40% chance of the bill passing,which country should they choose for manufacturing?
b.Over what range of values for the "bill passing" will the solution in part (a)remain optimal?
Definitions:
Third World
A term originally used to describe countries that were not aligned with either the capitalist First World or the socialist Second World during the Cold War, now often referring to developing countries.
Gross Domestic Product
The total market value of all goods and services produced within a country's borders in a specific time period, serving as a broad measure of economic activity.
Globalization
The process of interaction and integration among people, companies, and governments worldwide.
Inequality
The unequal distribution of resources, opportunities, and privileges among individuals or groups within a society, leading to disparities in wealth, power, and status.
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