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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?
Type your The University of North is the major state university. The University was preparing for its upcoming re-accreditation, so the University board set aside extra funds to ma
Let's say you own a small construction company. You need to decide whether to buy a bulldozer to add to your equipment fleet. You assume that the construction industry could be Goo
Seniority can have various provisions, such as bumping rights; but, the overall goal is to reduce arbitrary or discriminatory treatment of employees by using a quantifiable, object
Please explain in detail the answer for the following scenario: Your boss looks at his budget in April and realizes that he has extra money to spend, so he tells you to create and
1 What the spark that started the current uprisings in the Middle East? Explain. 2 Apply your knowledge of the importance of Rule of Law into the current uprisings in the Middle
1. What you think might be the order winning and order qualifying criteria for: McDonald's, Southwest Airlines and a university? Answer:
Which market do customers who have purchased and are driving Audi automobiles represent? a. Target market b. Available market c. Potential market d.
A two year sales history by quarter for a seasonal product is given below. Sales Quarter First Year Second Year 1 30 42 2 48 58 3 60 74 4 35 44 a) Using Winter's
Of all the discussions and assignments provided in this course, evaluate how Project proposal, project implementation and communication strategy might specifically support your abi
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