Please answer question 3. Quantitative simulation only.analysis experts ONLY. Use linear programming, PERT/CPM, or the monte Carlo simulation.
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Introduction One final case for you to crack! A local apparel producer, Steel City Gear, needs help, and fast! Their operations expert quit recently to join the Peace Corps, and they were in the middle of two important tasks: a manufacturing floor reorganization project and deciding how to allocate their advertising budget between TV, radio, and online advertisements. The marketing manager also wants to take advantage of your expertise by analyzing an upcoming promotional campaign: a t-shirt giveaway for each home game that the Steelers win this year. The departed operations specialist left some spreadsheets on the office computer relating to the project, but they are unsure how to make best use of the information. The marketing manager consulted Vegas betting sites to ascertain the probability that the Steelers win each of their home games this season, but does not know how to use this data to estimate the cost of the promotion Steel City has provided you with as much information as they have, and it is up to you to determine the best quantitative approach to answering their questions. Steel City has also made it clear that it is crucial that you explain what you are doing in a way such that a group of people unfamiliar with quantitative analysis can understand what you are doing and feel comfortable with the results. If you just provide a numerical answer to their questions, while still helpful, this will not meet their expectations for the project. Be sure to include all calculations. Any Excel files used to complete the case MUST be turned in as well, but the report itself must contain all critical information needed by the client. Deliverable Steel City has requested that you answer their questions in the form of a business report in MS Word format (hint: there are several canned report formats in MS word to spice things up a bit). Simply typing in answers to their questions below will be construed as a lack of professionalism. The writing must be free of errors and easy to understand. The exact design of the report is up to you, as long as the report format is used correctly and professionally, and all issues are addressed in an organized and coherent manner. As is your policy, you are to include any equations, calculations, and Excel files that you have used to be completely transparent. Any graphs or diagrams should be included in the body of the report and labeled properly. Detailed calculations may be included in an appendix to the main the report.
THE CASE The operations manager left the following files on the computer: Project Activity Information Most Immediate Optimistic Predecessors Likely (weeks) (weeks) Activity Pessimistic (Weeks) А 3 4 5 B A 4 5 12 0 0 0 С 2 4 6 D C 3 4 5 E 1 2. 3 B, D E F 2 4 6 G BD 6 7 14 H G 6 8 10 1 F, H 3 4 5
Cost per Marketing Data from Ad Agency Exposure Type of Advertisement Ad TV ads 1-6 12,000 30,000 per Ad TV ads 7 and over 4,500 30,000 Radio ads 1-12 6,000 9,000 3,600 Radio ads 13 and over Online ads 1-18 9,000 4,000 3,000 Online ads 19 and over 2,400 4,000 Game 1 3 4 5 6 7 8. N Probability the Steelers Win 0.55 0.6 0.45 0.65 0.55 0.45
(3) Set up a spreadsheet simulation model with 1,000 trials for which whether Pittsburgh wins or loses each game is a random variable. Suppose for each game that the Steelers win, Steel City will spend $4,500 on a t-shirt giveaway following the game. What is the mean and standard deviation of the number of wins during the season? What is the mean and standard deviation of the cost of the promotion?