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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?
What are some new products I could use that serve two business (organizational) markets?
define the following key terms in product layout; product interval time, product duration, asssembly line balancing.
Explain two methods for allocating costs. Justify why you selected them and how you would make the most use of them in cost analysis.
Do you believe all turnovers are undesirable and to be avoided?
Factors Responsible for plant Location choice The physical factors associated with location of an enterprise can have a significant impact on the operations of an enterprise a
Subject: Business Systems Analysis. Assignment 4 Using the book 'Essentials of System Analysis and Design, 4th Edition Read the Hoosier Burger scenario on page 199 in Chapter 6 of
2. Inez Garcia was born in Portland, Oregon. Her mother is from Italy and Jewish. Her father is Mexican. Under the Guidelines on Discrimination Because of Religion or National Orig
A company has a new design for their product in next year that can reduce their material cost of producing units from $8.14 to $7.32. The company passes on half of all cost savings
Identify the ways in which Total Productive Maintenance (TPM) could be applied as part of a manufacturing organisation's quality programme. Organisational quality program
When linking marketing requirements and manufacturing strategy, what design approaches for shop floor system should be considered? JIT and Lean MRP and PAC MRP and JIT
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