Business, 19.02.2021 01:00 ny01282005

QUESTION 1 I drive to UB and am currently looking for a parking spot so I can walk to Jacob's. If I turn into a parking lot to look for a spot to park in that specific lot, the process of looking for a spot takes 1 minute of time whether I find a spot or not (so if I have to check two lots to find a spot, it takes me 2 minutes to find a spot total). Parking lot A is closer to Jacobs. If I get a spot here, it takes me 4 minute to walk into my class at the business school, however there is only a 30% chance I'll find a spot if I look. Parking lot B is an 8-minute walk. If I pull in to look for a spot, there is a 100% chance I will find a spot. Assume that it does you no good to keep looping through a full parking lot (ie. if it is full, it stays full). Which strategy to find a parking spot is best for me (ie. which order should I check the parking lots for spots to park), if I am risk-neutral, and simply want to have the earliest expected arrival time to Jacob’s as possible? (Another way to say this is we want the smallest expected value of time spent getting to Jacob’s). Now, assume I am risk averse (let’s say that in this second case, my class starts in 10 minutes, and there is a large decrease in my utility if I am late for class). Is the best strategy the same as when I am risk-neutral, or has it changed?

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 02:00

Southeastern bell stocks a certain switch connector at its central warehouse for supplying field service offices. the yearly demand for these connectors is 15,000 units. southeastern estimates its annual holding cost for this item to be $25 per unit. the cost to place and process an order from the supplier is $75. the company operates 300 days per year, and the lead time to receive an order from the supplier is 2 working days.a) find the economic order quantity.b) find the annual holding costs.c) find the annual ordering costs.d) what is the reorder point?

Answers: 2

Answer

Business, 22.06.2019 21:30

Which of the following best explains the purpose of protectionist trade policies such as tariffs and subsidies? a. they make sure that governments have enough money to pay for fiscal policies. b. they give foreign competitors access to new markets around the world. c. they allow producers to sell their products more cheaply than foreign competitors. d. they enable producers to purchase productive resources from everywhere in the world.

Answers: 1

Answer

Business, 23.06.2019 00:00

Todd and jim learned that in building a business plan, it was important for them to:

Answers: 1

Answer

Business, 23.06.2019 02:30

Is will able to claim r.j. as a qualifying child for the earned income credit (eic)?

Answers: 1

Answer

You know the right answer?

QUESTION 1 I drive to UB and am currently looking for a parking spot so I can walk to Jacob's. If I...