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A foundry receives an order for specialty castings. Cost of producing each casting is estimated to be $15,000. The customer requires that exactly 4 good castings be supplied. The customer will pay $20,000 for each good casting. If fewer than four good castings are available, none will be purchased. Each casting is produced independently and the probability of an individual casting being acceptable to the customer is .80. 1/ Develop the expected profit function to be maximized? 2/ Determine the production lot size that maximizes expected profit? 3/ Determine the lot size that will yield a probability of .90 of producing at least 4 good castings. What is the expected profit for the lot size obtained?
Identify the cost of hardware, software, and networking components for an RFID system for your company. What factors should be considered? What are the key decisions that have to b
Review the "You Be the Judge" case in chapter 9 entitled Demasse v. ITT Corporation. Answer the following questions about this case: Did the emplyee handbook create a contractual
A process flowchart uses symbols to represent which of the following?
PERFOMANCE IMPROVEMENT By categorizing radical and continuous process improvement methods, outline different operations improvement methods which you know a) Tanzania
1. What challenges have managers at some technology companies faced in terms of managing human resources? 2. How do managers at some technology companies that invest resources in r
Q. Define the strategic positioning by Reck and Long? The strategic positioning tool through Reck and Long: Reck and long looked at the various positions or approaches to su
Distinguish between a general benefit and a specific benefit. Why do customers respond positively to specific benefits?
Transferring some part of an organisation's activities to a subsidiary in another country is an example of offshoring.
Kim was in a financial bind. Just last year, she had purchased a personal plane and an exclusive home that housed the plane in its garage. The total costs were $1 million and Kim's
Discuss about the Holding Inventory Control Systems. Holding Inventory Control Systems: Holding great levels of inventory enables an organisation to be extra flexible to
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