What is the probability that steven will be short pumpkins

Assignment Help Operation Management
Reference no: EM131439558

Every year in early October Steven King buys pumpkins of one size from a farmer in Maine and then hires an artist to carve bewitching faces in them. He then tries to sell them at his produce stand in a public market in Boston. The farmer charges Steven $2.00 per pumpkin and the artist is paid $3.00 per carved pumpkin. Steven sells a carved pumpkin for $8.00. Any pumpkins not sold by 5:00 p.m. on Halloween are donated to Steven's favorite children's hospital. Steven pays the artist $.5 per pumpkin to rush the pumpkins to the hospital for the youngsters to enjoy. Steven estimates the demand for his pumpkins this season to be uniformly distributed within a range of 40 to 80. a. How many pumpkins should Steven have available for sale? b. Based on your answer to (a), what is the probability that Steven will be short pumpkins?

Reference no: EM131439558

Questions Cloud

Describe several tools for monitoring projects : In this module, we describe several tools for monitoring projects, including checklists, spreadsheets, percent complete, tracking Gantt Charts, and earned value. Create a three-column table with each of these in the left-hand column called "Method". ..
Formulate and solve a linear programming model : A jewelry stores carries necklaces, bracelets, rings, and earrings. Necklaces take up 1 unit of space, while bracelets, rings, and earrings take up 2 units each. The store has 108 units of space available.Necklaces take 3 minutes to set up. Formulate..
Describe the hr job positions listed for that hr department : Propose how you would ensure the HR strategy is in alignment with the business strategy.Describe the HR job positions and the responsibilities listed for that HR department. Determine which HR job positions you would prefer and explain why.Analyze ho..
Discuss current debates about organization and management : An introduction that includes a discussion of what organization and management research is and why it is important. You then need to outline the current debates about organization and management research that are currently taking place
What is the probability that steven will be short pumpkins : Every year in early October Steven King buys pumpkins of one size from a farmer in Maine and then hires an artist to carve bewitching faces in them. He then tries to sell them at his produce stand in a public market in Boston. The farmer charges Stev..
Strict regulations in licensing professionals and suspension : In the state of Nevada, they have strict regulations in licensing professionals and suspension or revocation of such licenses as sanctions to white collar criminal activities. While building trades are viewed a blue collar jobs, licensing is often vi..
Provide some examples of customer-provider-routed services : Provide some examples of customer- and provider-routed services that you have encountered that are different from those described in this chapter. Can you identify any improvements to these processes? (Collier/Evans OM5 textbook)
The health insurance portability and accountability act : The Health Insurance Portability and Accountability Act has additions to the health care fraud and abuse law penalizing health care fraud, wrongful disclosure of individually identifiable health information, home health care false certification, and ..
Find the optimal order quantity and cycle time : Demand for a popular athletic shoe is nearly constant at 800 pairs per week for a regional division of a national retailer. The cost per pair is $54. It costs $72 to place an order, and annual holding costs are charged at 22% of the cost per unit. Fi..

Reviews

Write a Review

Operation Management Questions & Answers

  What is the average time a car is in the system

Automobiles arrive at the drive-through window at the downtown Baton Rouge, Louisiana, post office at the rate of 4 every 10 min. The Average service time is 2 min. The Poisson distribution is appropriate for the arrival rate and service times are ex..

  What is the annual ordering cost

What is the total annual cost, including ordering, holding, and purchasing the silverware?

  Which option has the highest expected monetary value

James Lawson's Bed and Breakfast, in a small historic Mississippi town, must decide how to subdivide (remodel) the large old home that will become its inn. Which option has the highest expected monetary value

  Identify the key constraints of the project

Create a project charter and identify the key constraints of the project scope, budget, timeline, quality, people resources, etc. Using the scenario from this unit, create a spreadsheet that lists all the project risks you see based on what you cur..

  What do you think about comparable worth as theory

Based on the text's discussion, and your own organization work and practical experience, what do you think about "comparable worth" as a theory? Include some discussion of the "Equal Pay Act' and arguments for and against "comparable worth." Consider..

  Perfect climate and topography for agricultural products

Atlantic Canada is blessed with the perfect climate and topography for agricultural products. In this region of Canada, you can find the world’s largest fruit farm, the world’s largest producer of frozen French fries, the world’s largest supplier of ..

  Explain an orientation experience you have had or are

describe an orientation experience you have had or are familiar with that was effective or ineffective in aligning

  The strategy of international business

Discuss what strategy Avon was pursuing until the mid-2000s. What were the advantages of this strategy? What were the disadvantages? Discuss what changes Andrea Jung made in Avon’s strategy after 2005. What were the benefits of these changes? Can you..

  Employees engaged in interstate commerce-appropriate remedy

The employer is a small, nonunion furniture manufacturer with 15 employees engaged in interstate commerce. Both of the employees involved in this case worked in the machine shop building as band-saw operators. Was the employer’s s discharge of Drake ..

  Common law system and a civil law system

What are the key differences between a common law system and a civil law system? Why do some countries have common law systems and others have civil law systems?

  Marketplace competition as positive or negative influence

Discuss whether you see marketplace competition as a positive or negative influence on the development of hospitals and health services in the U.S. Defend your position; offer example(s) to support your points.

  Advantages of implementing supply chain management

This is your opportunity to really pitch the advantages of implementing supply chain management and for designing a quality assurance process for these two departments within your company.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd