1. Suggest some metrics that a manager of fast-food restaurant, such as McDonlad

Question

1. Suggest some metrics that a manager of fast-food restaurant, such as McDonlad's, Chipotle, might want to collect. Describe how the manager might use the data to facilitate better decisions. 2. A pharmaceutical manufacturer has projected net profits for a new drug that is being released to the market over the next five years Year Net Profit 1 $(300,000,000) 2$(145,000,000) $50,000,000 $125,000,000 5 $530,000,000 Use a spreadsheet to find the net present value of these cash flows for a discount rate of 3%. 3) Profit is computed as the difference between total revenue from sales and total cost of production. Revenue depends on the market share captured by a company and the size of the target market. Various marketing decisions taken by managers are reflected upon the market share. The decisions also have an impact on marketing costs which in turn will affect the total cost of production. Construct an influence diagram that relates these variables. 1) Decision variables: A) cannot be directly controlled by the decision maker. B) are assumed to be constant C) are always uncertain. D) can be selected at the discretion of the decision maker. Answer. 2) Identify the uncontrollable variable from the following inputs of a decision model. A) investment returns B) machine capacities C) staffing levels D) intercity distances

Explanation / Answer

Q3.

1. Decision variables can be selected at the discretion of the decision maker. Decision variables are the part of problem that are not constant and vary from project to project. These variables are controlled by the decision makers.

2. The uncontrollable variable inputs of a decision model is investment returns. This is because it can not be controlled using various decision variables. However, machine capacities and staffing levels are parts that are controlled setting decision variables accordingly. Intercity distances can also be controlled using decision variables.

Q1. Some of the metric that a manager of fast-food restaurant might want to collect:-

1. Each type of item sold (the numbers will help the manager to work on respective less selling item)

2. At what time of day, item is sold quickly and when is time of scarcity of resources, it will help the manager to cop up with the problem of high demand, if any.

3. Online and offline orders data. It will help the manager to take steps to boost the earnings in respective mode in which less earnings are there.

4.Quality survey data given by customers so that quality of food can be taken care of. It will help them to stand in the market for long.

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