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A local market research firm has just won a contract for several thousand small projects involving data gathering and statistical analysis. In the past, the firm has assigned each project to a single member of its highly-trained professional staff. This person would both gather and analyze the data. Using this approach, an experienced person can complete an average of 10 such projects in an eight-hour day. The firm's management is thinking of assigning two people to each project in order to allow them to specialize and become more efficient. The process would require the data gatherer to fill out a matrix on the computer, check it, and transmit it to the statistical analysis program for the analyst to complete. Data can be gathered on one project while the analysis is being completed on another, but the analysis must be complete before the statistical analysis program can accept the new data. After some practice, the new process can be completed with a standard time of 20 minutes for the data gathering and 30 minutes for the analysis. a. What is the production (output per hour) for each alternative? What is the productivity (output per labor hour)? b. How long would it take to complete 1,000 projects with each alternative? What is the labor content (total number of labor hours) for 1,000 projects for each alternative?
You need to increase capacity of your manufacturing operation by adding new equipment. Two vendors have presented proposals.
Suppose production manager is told to reduce safety stock of this item by 100 units. If this is done, illustrate what will new service probability be. Solve this problem.
You will require including information such as cost, compatibility with current systems also work flow processes, functionality, ease of use also end user support.
Calculate Touring Enterprises' weighted average cost of capital (WACC). Work as follows: first, compute the after-tax cost of debt, then compute the cost of equity. Cite both formulas, and show all your work.
Utilizing the perspective of the effects of organizational culture, explain the impact of The Toyota Way. Illustrate what challenges does Toyota face as it attempts to maintain The Toyota Way while pursuing vigorous global expansion.
Describe the two main types of financing that entrepreneurs may seek for their businesses. What are the risks and benefits involved with each?
Many profit-making firms have a strategy map that is tied to four elements: financial results, customers, human resources, and sustainability. If you developed a scorecard that included these areas
Suppose the production of a product consists of two operations. Defects can occur at each operation. There were 60 defective units out of the total 4,000 units produced.
The lead time for an order is 1 week also the standard deviation of demand is 25 tubes per week. Elucidate what is A1Õs optimal order quantity. Elucidate what is the optimal number of orders per year.
Make sure to examine the threats which you feel are present in the study which you designed. As a researcher, illustrate what can you do to overcome some of these limitations.
A contractor departed from the specifications at a number of points in a contract to build a house. The cost to put the house in the condition called for by the contractor was approximately $14,000.
Forecast the number of accidents that will occur in May, using least-squares regression to derive a trend equation.
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