OR_HW_4.pdf - Operations Research lecture number 0760...

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Operations Research lecture number semester 0760 - WS 16/17 Assignment 4 (Four) Date: 07.11.2016 Handed in by: Malte Böckmann, 1352546 Sandra Zechmeister, 1225410 Maciej Filipek, 0302525 Handed in for: Univ.Prof. Mag. Tina Wakolbinger, Ph.D.
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Management Summary Following the decision tree in Figure the optimal expected profit (EV) is denoted by 25506$, this means that Je , should consider to wait until 5.pm and pack the lobsters. If Logan airport is hit by the storm he should use MAF as a logistics service provider. In the following document the decision tree and the computations are displayed. The sample size is denoted by n = 3000 units of lobster 1
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Figure 1: Decision Tree of Kendall Crab and Lobster 3
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Decisions and Computations From the logical point of view Je has to make two decisions at the starting point. The first one is part of the following: Use EPD Wait until 5 pm and pack the lobsters Cancel the contract and distribute the vouchers (unpacked Lobsters) The second decision is part of the Wait until 5 pm and pack the lobsters . If the storm hits Boston and the Logan airport is not operating anymore, the he has
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