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Consider a cruise liner provisioning a certain consumable item for her next trip. In the first stage, the cruise liner procures from the home port region right before the start of the trip. The unit cost for the item at home port is c1. The trip duration is T days. From the provisioning stand point, the trip is completed in two legs. At the end of the first leg, which takes t1 days, the cruise liner arrives at her port-of-call (midpoint). This is when she has a chance to replenish her inventory for this item. The unit cost at this location is c2, where c2 > c1. In the second leg, which takes t2 days, the liner goes back to the home port to complete her voyage. Clearly, T = t1 + t2. The daily demand for this item during the cruise follows a normal distribution with a mean of µ and a standard deviation of σ. The demand across days are assumed to be independent. Stock-out cost for the liner is p per unit. Any excess inventory at the end of the trip costs h per unit for landing and salvaging. Let y1 and y2 denote the replenishment amounts at home port and port-of-call respectively. Compute the optimal replenishment policy that minimizes the cruise liner’s expected cost.
When is the best time in the research process to start searching for participants? You are in charge of a project that is investigating the effects of gender differences on the reading scores of first, third, and fifth grades in three different schoo..
The supervisor at the American airline check-in counter observes the following process characteristics: all the agents can, together, complete checking in 90 customers per hour on average; there are, on average, 24 customers either waiting in line or..
Think of a time you held fast to a decision even after learning that it was probably a wrong or faulty decision. How long did you persist with your original (faulty) decision? Looking back now, when should you have modified your decision? What could ..
The Thompson Supply company provides a full range of products for industrial construction. Thompson buys the product from its manufacturer and then resells the product to construction companies. Suppose Thompson uses a reorder point of 170 units. Wha..
How much evidence would the plaintiff need in order to win the civil case? And compare the amount of evidence needed in a criminal case to the amount of evidence needed in a civil case.
An online bookstore has four warehouses serving the southwest area. Weekly demand at each warehouse is independent and normally distributed with a mean of 500 and standard deviation of 150. The lead time is two weeks. What is the average demand and s..
2. The plans of management are often expressed formally in: A) financial statements. B) performance reports.
Advantages of the matrix structure include:
Determine the best practice for conducting an earned value analysis for the project in question. Provide a rationale for your determination and one (1) specific example which illustrates the significant ways in which the best practice in question wou..
When we take a look at Expectancy Theory, what is the premise associated with motivation associated with the relationship between individual effort and performance?
Specify the sequential relationships among the tasks using a diagram. An example can be found on the lecture slides for Week 5. Please include all the tasks, arrows, and task times in the diagram.
describe the tasks, and responsibilities of your dream job related to your academic major
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