QP ASR-001 F Question 4 i) In aquest to meet the anticipated increase in demand for Covid -19 vaccines, a pharmaceutical

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Qp Asr 001 F Question 4 I In Aquest To Meet The Anticipated Increase In Demand For Covid 19 Vaccines A Pharmaceutical 1 (76.32 KiB) Viewed 109 times

QP ASR-001 F Question 4 i) In aquest to meet the anticipated increase in demand for Covid -19 vaccines, a pharmaceutical business is considering ways of expanding its production process. At the current operating costs, the business expects to experience an increase in revenue of £32 000 from its existing process when running at full capacity. Kzamine Advisors was brought in to review the business practices and came up with the following solutions. a. Continue to operate the existing plant and not undertake any rebranding. b. Undertake an advanced level rebranding program that would cost BWP 30 000 and has a 0.8 chance of success. If successful, an increase in revenue of BWP55 000 is expected. If unsuccessful an increase in revenue of BWP8000 is expected. c. Undertake a less extensive rebranding program costing BWP10 000 which has a 0.5 chance of success. If successful, an increase in revenue of BWP 40000 is expected, and if unsuccessful an increase of revenue BWP5000 is expected. Page 2 of 4 Based on the above information present a decision tree to determine the most profitable course of action and comment on your findings [5] ii) The human resources director at the Pharmaceutical company wishes to estimate the true mean employment period of all production workers in the industry. A random sample of 576 production workers recorded the mear employment period to be 126 months. The population standard deviation is assumed to be 10.5 months and normally distributed. Find the 95% confidence interval estimate for the actual mean employment period (in months) for all production workers employed in the pharmaceutical industry. [5]