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Montanso is a large bio firm that sells genetically modified seed to farmers. They need to decide how much seed to put into a warehouse to serve demand for the next growing season. They will make one quantity decision. It costs Montanso $8 to make each kilogram (kg) of seed. They sell each kg for $45. If they have more seed than demanded by the local farmers, the remaining seed is sent overseas. Unfortunately, they only earn $3 per kg from the overseas market (but this is better than destroying the seed because it cannot be stored until next year). If demand exceeds their quantity, then the sales are lost - the farmers go to another supplier. As a forecast for demand they will use a normal distribution with a mean of 300,000 and a standard deviation of 106,000.
(a) How many kilograms should they place in this warehouse before the 2011 growing season?
(b) Ignoring the analysis in the previous question, how many kilograms should they place in this warehouse if they want to minimize their inventory while ensuring that the stockout probability is no greater than 10%?
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Elucidate how would you have ruled on the case when it was tried in 2001. Elucidate. Would the result be any different today after the Supreme Court's 2005 decision in the New London, Connecticut, case. Elucidate.
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Assume you can't get off the hiring committee and must serve on it. How should you handle this situation without causing problems
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Your in charge of a project at the local community center. The center needs to remodel one of the room in time for the start of a new program. Delays in the project mean that the center must rent other space at nearby church at additional cost.
Describe the relationship between financial forecasting for financial planning and for strategic planning, with a focus on describing the key requirements for effective financial planning and policy making.
ABC corporation found that its total indirect costs is $10 million per year.ABC employs 100 direct labor who work 40 hours per week over a 50 working weeks per year.
Why are so many companies using 360 degree feedback systems? Illustrate what are benefits also disadvantages of this. Why should managers provide ongoing also frequent feedback to employees about their performance.
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