The research department of Unilever Ltd has recommended to the marketing department to launch a shampoo of three different types. The marketing manager has to decide one of the types of shampoo to be launched under the following estimated pay offs for various levels of sales: Estimated levels of sales 15,000 10,000 5,000 1. Egg shampoo 2. Clinic shampoo 3. Deluxe shampoo 3000 1000 1000 3000 3000 250 1000 1000 1000 What will be the marketing manager’s decision if i. Maximum criterion is applied? ii. Minimax criterion is applied? iii. Maximax criterion is applied? iv. Laplace criterion is used? v. Hurwicz criterion is used? Use α = 0.75
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
The research department of Unilever Ltd has recommended to the marketing department to launch a shampoo of three different types. The marketing manager has to decide one of the types of shampoo to be launched under the following estimated pay offs for various levels of sales:
|
|
Estimated levels of sales |
||
|
15,000 |
10,000 |
5,000 |
|
|
1. Egg shampoo 2. Clinic shampoo 3. Deluxe shampoo |
3000 1000 1000 |
3000 3000 250 |
1000 1000 1000 |
What will be the
i. Maximum criterion is applied?
ii. Minimax criterion is applied?
iii. Maximax criterion is applied?
iv. Laplace criterion is used?
v. Hurwicz criterion is used? Use α = 0.75
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The research department of Unilever Ltd has recommended to the marketing department
to launch a shampoo of three different types. The marketing manager has to decide one of
the types of shampoo to be launched under the following estimated pay offs for various
levels of sales:
Estimated levels of sales
15, 000 10,000 5, 000
1. Egg shampoo
2. Clinic shampoo
3. Deluxe shampoo
30
40
55
10
15
20
10
5
3
What will be the
iv. Laplace criterion is used?
v. Regret criterion is used?
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