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Case Discussions - Statistics Project Example

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From the study "Case Discussions" it is clear that qualitative factors that should be considered before making a decision on the job are: the financial stability of the firm, these determine whether the firm will adopt a decision and remain financially stable.
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Case Discussions
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Download file to see previous pages Although Primus has excess capacity and is able to spare enough recourses for the job without closing other businesses and hiring additional staff means that the opportunity cost of Primus is zero
Qualitative Factors that should be considered before making a decision on the job are The financial stability of the firm, these determine whether the firm will adopt a decision and remain financially stable. Consumers the target group in firms output, competitors this is the same firms in the market that produce the same product, this helps the firm determine its branding; and marketing techniques. Optimum profit and a breakeven point of the firm in order to reduce unnecessary losses (Nahmias, & Olsen, 2015).

Case 2
a) The firm should identify its key the operations and quantify it in terms cost and time. Average time and cost of production of a product should be reflected in the profit of a particular product. The demand for the products in the market also should be taken into consideration as far as the profit and production are concerned. It is ideal for the company to identify less profitable and least demanded products them in the market and scrub in order to increase workforce per unit of production. This will lead to increased supply to counteract the demand in the market.
The company should establish a way of minimizing the defectives as a way of making production effective minimizing time, labor, and cost incurred in the production of defective products; this will optimize the output of the products. ...Download file to see next pagesRead More
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