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A foundry receives an order for specialty castings. Cost of producing each casting is estimated to be $15,000. The customer requires that exactly 4 good castings be supplied. The customer will pay $20,000 for each good casting. If fewer than four good castings are available, none will be purchased. Each casting is produced independently and the probability of an individual casting being acceptable to the customer is .80. 1/ Develop the expected profit function to be maximized? 2/ Determine the production lot size that maximizes expected profit? 3/ Determine the lot size that will yield a probability of .90 of producing at least 4 good castings. What is the expected profit for the lot size obtained?
What is the purpose of drug courts? What do you think will be their future? Do you think drug courts are a good idea? Why or why not?
What run quantity should be used to minimize total annual costs? (Do not round intermediate calculations. Round your final answer to the nearest whole number.)
Determining best pricing strategy for a product. Establishing a production schedule that enables firm to meet forecasted sales.
Which stage of the product life cycle would you place smart phones in, and why would you so place them? Which stage of the product life cycle would you place DVD players in and why would you so place them?
Discuss the probable impact of society as a whole if the 10 facts about money and banking were clearly understood by everyone in the country.
Over illustrate what range of demand would manual process be preferred over mechanized process. Over illustrate what range of demand would mechanized process be preferred over manual process.
Compare the models and information found with Nonaka's Theory of Knowledge Creation. Consider ways knowledge creation works in an organizations.
Discuss what you think will happen to supply, demand also price of the product in the long-term. Explain why you think supply, demand, or equilibrium price will be different, if at all, in the short-term also the long-term. "
Assume Pay Grade A has a midpoint of $42,000 per hour with a 40% pay spread. Pay Grade B had a minimum pay of $60,000 per hour.
What is an industry? Industry is a group of diverse businesses under common owners.
Approach techniques can be grouped into three general categories. These three categories are:
For each of the PM policies not selected in a), how much of a reduction in the PM cost (the total cost of performing a PM for all of the machines and not expressed in PM cost per machine per month) is required to have this PM policy equal to the PM p..
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