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A local farm sells freshly cut Christmas trees to its neighborhood customers. It orders all the trees for that season at the end of October for $25 each. The selling price is always $55/tree. The farm orders no additional trees regardless of customer demand, i.e. customers will be turned away if no more trees are left. However, if there are any leftover trees unsold after the holiday, it will cost the farm $1.50/tree to transport them to a paper-mill in New Hampshire, and sell for $2/tree. The owner has kept track of the demand pattern in the previous years, and found that the average yearly demand for Christmas trees at the farm is 100 trees, with a standard deviation of 8. Please determine the optimal number of trees to order in October for this upcoming season.
Formulate a balanced transhipment problem (draw the transportation tableau) which can be used to minimize the shipping costs incurred in meeting consumers' demands. Solve the problem by utilizing QM for Windows.
Rare earth metals are a set of 17 chemical elements in the periodic table and include scandium, yttrium, cerium, and lanthanum. Small concentrations of these metals are a crucial ingredient in the manufacture of a wide range of high-technology produc..
Why is the grievance procedure an important part of labor-management relations? Explain a a typical grievance procedure. Elaborate on the advantaages of a functional grievance procedure, including a non-union workplace.
Reflect on your experience in this course. What do you find to be the most important elements to improve an organization’s competitive advantage? Explain the primary difference between a database and a data warehouse. Identify and explain six ways a ..
Unfortunately, Herman has not kept any historical data, but he estimates that first- quarter demand for the lights is about 30 percent below average, the second quarter demand about 20 percent below average, third-quarter demand about average, and..
1. How does development differ from training? How does development support career management in modern organizations? 2. Recommend a development method for each of the following situations, and explain why you choose that method.
In 1988 Clark’s Manufacturing Company sought to survive a competitive run on their business from the Japanese. They survived by using the systems thinking method. How did Clark’s save the company by using systems thinking? Identify three to five majo..
Plant Poor Quality Components Rectification
A primary care clinic can be an individual-physician practice or a multiple-physician practice organized as a nonprofit or a for-profit facility. Multiple-physician practices generally specialize in cardiac, women’s health, pediatrics, or related ser..
What trends are occurring in the development and use of the major types of computer systems and will the convergence of PDAs, notebooks, PCs, cell phones and all the other HHEDs.
A company's before tax profit could be 2 million with 70% probability or -1 million with 30% probability if no risk management strategy is used. With certain risk management strategy the company's before tax profit will be 1 million each year. What i..
Recruitment is of little use if an organization cannot retain key employees. Therefore, it is critical that organizations properly motivate and reward their employees.
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