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Case
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Reference no. 9-893-004
Subject category: Case Method and Specialist Management Disciplines
Authors: George Wu (Harvard Business School)
Published by: Harvard Business Publishing
Originally published in: 1992
Version: 29 October 1992
Length: 7 pages
Data source: Generalised experience
Topics: Simulations; Regression analysis; Decision analysis; Decision making
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Abstract

Charles River Jazz Festival must decide whether to press a compact disk (CD) of Friday's jazz performance for sale on Saturday and Sunday. The idea to press CDs is novel, so there is considerable uncertainty about how receptive customers will be. The festival must decide whether to press CDs only on Friday or pay for an option to press them on Friday and Saturday. A simulation is performed to help estimate Saturday and Sunday CD demand. One input of the simulation is a regression relating Saturday and Sunday attendance to Friday attendance and weekend weather conditions. The case illustrates how several different quantitative techniques - decision analysis, regression, and simulation -can be integrated in an analysis of a managerial decision problem. Provides practice in decision analysis; illustrates use of simulation and regression in obtaining probability estimates.
Location:
Massachusetts
Teaching note
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Reference no. 5-896-039
Subject category: Case Method and Specialist Management Disciplines
Authors: George Wu (Harvard Business School)
Published by: Harvard Business Publishing
Originally published in: 1996
Version: 19 December 1995
Length: 14 pages
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About

Abstract

Charles River Jazz Festival must decide whether to press a compact disk (CD) of Friday's jazz performance for sale on Saturday and Sunday. The idea to press CDs is novel, so there is considerable uncertainty about how receptive customers will be. The festival must decide whether to press CDs only on Friday or pay for an option to press them on Friday and Saturday. A simulation is performed to help estimate Saturday and Sunday CD demand. One input of the simulation is a regression relating Saturday and Sunday attendance to Friday attendance and weekend weather conditions. The case illustrates how several different quantitative techniques - decision analysis, regression, and simulation -can be integrated in an analysis of a managerial decision problem. Provides practice in decision analysis; illustrates use of simulation and regression in obtaining probability estimates.

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Location:
Massachusetts

Related

Teaching note
-
Reference no. 5-896-039
Subject category: Case Method and Specialist Management Disciplines
Authors: George Wu (Harvard Business School)
Published by: Harvard Business Publishing
Originally published in: 1996
Version: 19 December 1995
Length: 14 pages
View full details