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P: 3-28 Even though independent been having difficult gasoline stations have been thinking time. Susan about Solomon starting her own has gasoline station_ indepen...

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P: 3-28 Even though independent been having difficult gasoline stations have been thinking time. Susan about Solomon starting her own has gasoline station_ independent {arget her station sosala' problem is to decide how should be_ The depend on both the size of annual returns will marketing factors her station and number related to the oil demand for gasoline. After industry and developed the a careful analysis, following Susan table:uTchaeeva) keerImicals and Jotographic t that Bril- pres

p: 3-28 Even though independent been having difficult gasoline stations have been thinking time. Susan about Solomon starting her own has gasoline station_ independent {arget her station sosala' problem is to decide how should be_ The depend on both the size of annual returns will marketing factors her station and number related to the oil demand for gasoline. After industry and developed the a careful analysis, following Susan table: uT chae eva) keer Imicals and Jotographic t that Bril- president 12, that John ny photo- shelf life; ek; John S56, he Ie end of selling cases; GOOD SIZE OF FAIR POOR MARKET FIRST STATION MARKET MARKET Q:3-30 Re Small 50,000 20,000 -10.000 3C Prc Medium 80.000 thi 30,000 20.000 CO 0 on Large 100,000 30,000 -40,00O /00,60 WO Very large 300.000 25,000 -160,000 goc,60 los :3-31 Th For example, if Susan constructs small station and the market is good, she will realize profit of S50,000. M Develop a decision table for this decision: What is the maximax decision? What is the maximin decision? slc What is the equally likely decision? What is the criterion of realism decision? Use an de value of 0.8 Develop an opportunity loss table: What is the minimax regret decision? em. In- ities in on? gredi- to be ecom- rer of 32,00



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Balanced scorecard. (R. Kaplan, adapted) Petrocal, Inc., refines gasoline and sells it through its own Petrocal gas stations. 0 n the basis of market research, Petrocal determines that $60 \%$ of the overall gasoline market consists of "service-oriented customers," medium- to high-income individuals who are willing to pay a higher price for gas if the gas stations can provide excellent customer service, such as a clean facility, a convenience store, friendly employees, a quick turnaround, the ability to pay by credit card, and high-octane premium gasoline. The remaining $40 \%$ of the overall market are "price shoppers" who look to buy the cheapest gasoline available. Petrocal's strategy is to focus on the $60 \%$ of service-oriented customers. Petrocal's balanced scorecard for 2017 follows. For brevity, the initiatives taken under each objective are omitted. $$\begin{array}{lccc}
& \text { Target } & \text { Actual } \\ \text { 0bjectives } & \text { Measures } & \text { Performance } & \text { Performance } \\ \hline \text {Financial Perspective} & & & \\ \text { Increase shareholder value } & \text { Operating-income changes from } & & \\ & \text { price recovery } & \$ 80,000,000 & \$ 85,000,000 \\ & \text { Operating-income changes from } & & \\ & \text { growth } & \$ 60,000,000 & \$ 62,000,000 \\ \text {Customer Perspective} & & & \\ \text { Increase market share } & \text { Market share of overall gasoline } & & \\ & \text { market } & 4 \% & 3.8 \% \\ \text { Internal-Business-Process Perspective} & & & \\ \text { Improve gasoline quality } & \text { Quality index } & \text { 92 points } & \text { 93 points } \\ \text { Improve refinery performance } & \text { Refinery-reliability index (\%) } & 91 \% & 91 \% \\ \text { Ensure gasoline availability } & \text { Product-availability index (\%) } & 99 \% & 99.5 \% \\ \text { Learning-and-Growth Perspective } & & & \\ \text { Increase refinery process capability } & \text { Percentage of refinery processes } & & \\ & \text { With advanced controls } & 94 \% & 95 \% \end{array}$$ 1. Was Petrocal successful in implementing its strategy in $2017 ?$ Explain your answer. 2. Would you have included some measure of employee satisfaction and employee training in the learning-and-growth perspective? Are these objectives critical to Petrocal for implementing its strategy? Why or why not? Explain briefly. 3. Explain how Petrocal did not achieve its target market share in the total gasoline market but still exceeded its financial targets. Is "market share of overall gasoline market" the correct measure of market share? Explain briefly. 4. Is there a cause-and-effect linkage between improvements in the measures in the internal-businessprocess perspective and the measure in the customer perspective? That is, would you add other measures to the internal-business-process perspective or the customer perspective? Why or why not? Explain briefly. 5. Do you agree with Petrocal's decision not to include measures of changes in operating income from productivity improvements under the financial perspective of the balanced scorecard? Explain briefly.

So this question wants us to consider each other full situation for undersea forklifts. I just dropped a with that shows the situation the responsibility to the country of liberty on the suggestion for the problems. So the first question is in the manufacturing plant. The production manager is not happy with the engines that the purchasing manager has been purchasing. In May, the production manager stops requesting engines from the supply Wales on starts, processing them directly from a different engine manufacturer. Actual materials caused in me. I had them budgeted. Not for this question. It's situation one on into it. It is the responsibility off the production manager on it is the controllability of the porch Izzy manager. Now for the suggestions, I would suggest that the production manager should consult purchasing manager for purchasing monitors property in the models on. In order to improve the situation, the producer of the production manager should order quality and efficient models, which satisfied the requirements off the production off the production managers. So judicial managers shoot, consult what cheesy manages on other quality on efficient social, the quality and efficient forklifts. Now, the second question overhead costs in the manufacturing plants for June are much higher than budgeted. Investigation. We feel that a utility rate with Ike and the effect that was not figured into the market into the budget. Rather, so this is situation through on it is the responsibility off the production manager still, and it's also the country, the beauty of the production manager on for the suggestion. In order to service situation, the production manager should collect all the information I relevant like the I like the utility rates. Onda should figure out to figure it out into the budget, so must collect all relevant. I figure it out into the budget, and that's for that. Yeah, now the next question. No. About three, this one says Gasoline costs for each van are budgeted based on the service area off the van on the amount of driving expected for the month now the Java or 13 recently as monthly as monthly gasoline costs exceeding the budget off the van except in the budget for 13 After investigating, the service manager finds out that the driver has been driving the one for personal use. Now it's very responsibility off the driver driver over three. I am the controllability of the service manager. Now you know that's to control the cost. The service manager should constantly check the kilometers at the beginning and ending of the date on daily basis. And service manager should also compared Istana kilometer on actual kilometer driven. So the service manager should check the kilometer. Adds the beginning. On end of the day, I compared the standard he limited with actual kilometers. It's actual kilometers driven. Okay, that's that. Not number four situation for this one says that's big store. Where else? One of understands for Cliff Service customers, the service people are on Lee. The service people are only called for in called in for emergencies are not for routine. Maintain us. So tell us the materials and label cost for this service calls exceeds the monthly budget it'll cost for a contract manager. Now for this, it's for this situation. It's the responsibility off. They maintain a spa by so on. It is the controllability off this service manager now to continue to to solve this situation. Controlling the material and labor costs will lead to a better improvement, so we need to control the material and labor costs that's for that questions. No situation. Five On the Saints service technicians are paid hourly wage. It's overtime pay if they exceed 40 hours a week, excluding driving time. First nurse. One of the technicians frequently exceeds 40 hours a week. Right service customers are happy with Fred Fred's work, but the service manager talks to him constantly about working more quickly. Now, afraid over time causes the actual cost off service to exceed the project almost every month. Now for this, it is the responsibility of the technician, Fred. Right? So technician, honestly, the controllability of the service manager not for to control the situation. The service manager should motivates the technician to finish his trucks. You know, within the given time is giving on should not exceed 40 hours a week. So service manager should motivates the technician. So finish is tux. We didn't be given time. That's the answer. None of about 60 lakhs situation. The cost of gasoline has increased by 50% this year, right, which caused the actual gasoline cost to greatly exceed the budget. A cost for the service vans now for For this situation, the responsibility is for the purchasing managers on the controllability is for the production manager. Mhm, mhm, mhm and so control situation production manager, all right at the purchasing manager should must be aware of the market conditions and should make advance purchases, you know, to avoid lost when the price increases. So the what Chasing mom ninjas must be aware off markets conditions ahead. I make advance purchases, so avoid loss when prices increases, and that's that's the so bad situation.

So for this problem, what we're given is, and as our sample size, that's 3 11. We're going to let x one br displacement X two will be class. Mid size X three will be class Large x four will be fuel premium x five will be. Actually, it's not x five. Why is going to be fuel efficiency? And that's going to be calculated by a highway mpg. So now we have our regression equation, and we first have to determine the necessary sons. So you look at the sum of X I and that's 10 38. Then you look at the sum of X, I squared, and that's 3833.68 Then we look at the sum of why I and that's 80 36. And the sum of why I squared is 212,638 than the sum of X. I Y II gives us 2 25 432 7. So now we want to determine the slope of B um, and that's accomplished by B equals and times the sum of X y, minus the sum of X times the sum of why all over end times the sum of X squared minus the sum of acts square. This is going to end up giving us approximately negative 28825 So the mean is the sum of all the values divided by the number of values. So we're going to get that X mean is 3.3145 and the mean of why is 25 points 8392 The estimate of a of the intercept Alpha is going to be the average of wide decreased by the product of the estimate of the slope. So this is going to look like a is equal to the mean of Roy minus B times the medevacs, which is gonna give us 35.3933 Um, so we can replace Alpha or a with Alpha and be with beta. So now that's going to give us this value right here, which will now be 35 933 minus 2.8825 x one and then for part B, we will use. We can use excel to generate the multiple in your aggression model, and it will give us an output. Since this can't be done on Excel, Uh, we get a bunch of values, but if we put in the correct values will end up getting the correct output. So now we can move on to purchase E um, or actually, with part B, we can do part of us. So once you get the numbers in Excel, we see why hat is equal to be not. Plus B one x one plus b two, x two plus B three x three. Um, so we see that be not is going to equal 29 0074 b one is negative. 16581 B two is 4.4860 b three is 1.8190 and with that we end up getting as a result that are y is equal to 29. 0074 minus 1.6581 x one plus four point 44860 x two Move this for our last term, which is B three x three. That's gonna be plus one point 8190 x three. That's our final answer for beam and then foresee. We have our significance level Alpha. That's gonna be a 0.5 And the given claim is that b I or beta? I rather equals zero. So the null hypothesis states that even claim that the slope is zero. Um, So what we have now is that a church not equals. Uh, actually, h hot is given as b I equals zero and h A is given as b I. There's not equal zero. So the p values in this case we would end up getting abated. To corresponds to P equals zero, and beta three will correspond to p equaling zero point. Um, it's 1234 12345678 zeros 704 It's a very close to zero, but not quite. So if the P value is less than the significance than we will reject the null hypothesis hypothesis. So in this case, he is, um, less than zero and b two case, it's less than zero. So we reject the null hypothesis, which is h not. And in this case, um, it's less than zero is that we reject the significance is too Well, so you reject the null hypothesis again. Then, for part D, we do another excel generation of multiple linear regression model. Um, so we can't do anything with the sell side of things, but we have another one of these equations where it's be not, plus B one x one plus B two, x two plus B three, x three plus B four x four and then with all of our values what we end up getting as our estimated regression equation. It's going to be 29 7123 minus 1.6383 x one plus 3.9984 x two +16700 x three minus 1.585 x four In this case, the significance level. This is the last part. E. Alpha is going to equal 0.5 again. Um, and we and then all hypothesis we'll have data. One is equal to beta two, which equals beta three jiggles beta four, which is zero. And our H sub A is going to, um, ST that at least one of the FBI's is non zero. Besides, for some hi then the P values, uh, corresponding we want to look at, so we C p equals zero and P is less than zero. So we reject we reject h not because the P value is less than the significance. So I reject each nut are null hypothesis.


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