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It normally relies on departmental forecast and preregistration records to determine how many copies of a text are needed. Preregistration show 90 operations management students enrolled, but bookstore manager Curtis Ketterman has second thoughts,based on his intuition and some historical evidence. Curtis believes that the distribution of sales may range from 70 to 90 units, according to the following probability model.
Demand 70 75 80 85 90Probability .15 .30 .30 .20 .05
This textbook costs the bookstore $82 and sells for $112. Any unsole copies can be returned to the publisher, less a restocking fee and shipping for not a net refund of $ 36.
A) Construct the table of conditional profitsB) How many copies should the bookstore stock to achieve highest expected value?
Larry's boat shop wants to monitor number of blemishes in paint of each boat. Construct a c-chart to determine if their paint process is in control using subsequent data.
The probability of concluding that assignable variation exists when only random variation is present is: (I) the probability of a type I error, (II) known as the alpha risk
Explain how can business process redesign help improve case-file management system in a court registry environment.
Calculate the banks excess reserves. Suppose that the bank sells $5 million in securities to get new cash. Show the bank's balance sheet after this transaction.
Initially, the mean turnaround time for a stress test was 68 hours. After incorporating changes into the stress-test process, the quality improvement team collected a sample of 50 turnaround times
Despite great strides in our country, are re still issues that divide us along racial or cultural lines. If so, illustrate what can organizations do to change this. Illustrate what is our personal responsibility in making positive changes and redu..
A company hires a file clerk but does not inquire into his criminal history. In fact, he has had several convictions for driving while intoxicated.
Which type of power is dominant when a leader utilizes his or her ability to control punishments? Which of these describes a vision (as it pertains to leadership)?
Can Julia delete one of the financial alternatives also still offer investment choices for both risk seekers also risk avoiders.
Illustrate what is the possible daily output of this "process" if 8 hours of processing time is available each day. Given your output in part a, illustrate what is the efficiency of the process.
Determine the sensitivity ranges for the objective function coefficients, using graphical analysis.
Based on the facts above, have the parties entered into a binding contract? Please explain your answer, making sure that you discuss each element of a contract and identifying how each was or was not met.
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