Describe what is the probability that you will make money, Operation Management

Assignment Help:

The owner of Firewood To Go is considering buying a hydraulic wood splitter which sells for $50000. He figures it will cost an additional $100 per cord to purchase and split wood with this machine, while he can sell each cord of split wood for $120.

Demand for cords of wood can be modeled by using a Normal Distribution with a Mean of 2400 units and a Standard Deviation of 100 units. What is the Probability that you will make money using this machine?

Your Answer = _________________ 


Related Discussions:- Describe what is the probability that you will make money

Finish a net material requirements schedule, Complete a net material requir...

Complete a net material requirements schedule for: a) All items (10 schedules in all), assuming the requirement for each BOM item is 1. b) All 10 items, assum

Describing the classical and contemporary views, There are five elements of...

There are five elements of organizational design and structure that are used to manage an organization, Division of Labour, Span of Control, Unity of Command, Authority/Responsibil

Game theory is important for the understanding of what, Game theory is impo...

Game theory is important for the understanding of __________. A. competitive markets B. oligopolies C. all market structures D. monopolies

What are the qualities you believe are important in a leader, Name three qu...

Name three qualities you believe are important in a leader. Elaborate on each of those qualities. Do you think a leader today has to be more aware of their ethical behaviours than

Explain benefits of using qualitative and quantitative data, Compare and co...

Compare and contrast the benefits of using qualitative and quantitative data collection methods as they apply to organizational development (OD).

Describe scenarios and contingency plans, Ok need a little help in arrangin...

Ok need a little help in arranging these in the right order 1-5 Select measures and targets Set strategic goals Hold operational reviews Implement single-use plan Define scenarios

Explain the value of the business you selected, Know discuss what business ...

Know discuss what business you selected and the best possible method for determining the value of the business you selected. Explain your rationale

Explain impact an organizations ability to compete, Why are aggregate and s...

Why are aggregate and succession planning of critical importance? How might failures in these areas impact an organizations ability to compete? Be specific

Explain implications of the competitive advantage of nations, Porter's Five...

Porter's Five Forces Model and the implications of the Competitive advantage of Nations' research on this model

How much dollars of pipeline inventory will be in transit, Prince Electroni...

Prince Electronics, a manufacturer of consumer electronic goods, has five distribution centres in different regions of the country. For one of its products, a high-speed modem pric

Write Your Message!

Captcha
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