hw3 - ISyE 4803 - Homework 3 Due: October 1, 2009 (23...

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ISyE 4803 - Homework 3 Due: October 1, 2009 (23 Points) NOTE: In answering these questions, do not copy-paste text from the articles. Use your own words. 1. (4 points) Please refer to the Waffle House Case Study and answer the following questions (Problem 4.4): Based on your analysis in Problem 3 of Homework 2 (Problem 4.3 of the Waffle House Case Study), answer the following questions: a. (1 points) Suppose once again that your operations management team estimates from experience that the region is likely to be without electricity for three days following a storm and that lost profits are $5,000 per day. How many generators should be purchased to minimize the maximum regret? b. (1 points) What is the impact of your decision about the number of generators to purchase if electricity is actually out for four days? c. (2 points) What are the advantages and disadvantages of using a model that minimizes maximum regret in determining how many generators to procure?
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hw3 - ISyE 4803 - Homework 3 Due: October 1, 2009 (23...

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