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Types of Probability
• Differences between deterministic and probabilistic decision making
• An example of a time when you made a decision under probabilistic conditions.
Operation Flow Storage Flow Operation
To minimize total cost, explain how many units should be ordered each time an order is placed. If the holding cost per unit was $6 instead of $5, illustrate what would the optimal order quantity be.
A manufacturing company purchase 9000 parts of a machine for its annual requirements ordering for month usage at a time, each part costs Rs. 20. The ordering cost per order is Rs.15 and carrying charges are 15% of the average inventory per year. You ..
When a small number of large forecast errors needs to be guarded against, what is the measure of forecast accuracy should be used between MAD and MSE?
The owner of a newsstand believes that the demand is uniformly distributed for the newspaper between 10 and 100. The paper costs 70 cents, which sells for $1.25. For each unsold paper, the owner receives 30 cents credit.
Under Title VII it is always illegal to discriminate against an employee based on his or her status as an alien or because the employee is not a U.S. citizen. White managers using the term "boy" in reference to black employees is not enough evidence ..
The Pareto chart is a widely used quality tool. The principles of Pareto analysis have been used in many projects. Which of the following statements is an inappropriate application of a Pareto chart?
Describe the importance of employee benefits as a strategic component of fulfilling the goals of HRM.
Is the inherently discriminatory nature of underwriting acceptable from a public policy standpoint? Would shifting to a primarily behavior-based approach to risk assessment be feasible?
Discuss Constitutional Law for Business and E-Commerce emphasizing the connections between business, law, politics and ethics. What is the Supremacy Clause and how does it function?
Business Process Models and Strategy Analysis - You are a consultant who has been employed to advise LC on the effective implementation of these strategic changes.
Your company has given you the task of reducing inventory by 25%, without negatively impacting customer service. What actions would you take to accomplish this task?
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