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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?
An industrial machine tools manufacturer supplies replacement parts from its inventory. For a particular part, the annual demand is expected to be 750 units. Machine setup costs ar
Discuss how various legal, political, economic, and cultural systems may affect the brokering of a relationship with international partners.
What is the difference between rating and underwriting and how is it used? Identify and discuss any ethical issues that could arise in the underwriting process.
• Open the original project zuul-better that you first encounter in this unit%u2019s required reading. Save it using a different name, in this format: zuul-last_name_first-initial.
Introduction to the Operations Function Firstly, consider the economy where gross domestic product (GDP) has been subdivided into its major divisions which are agriculture, ma
3. Imagine an athletic facility such as Sawhill. What strategies would you suggest for creating an open environment? Sawhill Athletic Club was an athletic facility in suburban S
Sales of music stands at Johnny Ho music store in Columbus, Ohio, over the past 10 weeks are shown in the table below. a) Forecast demand for each week, including week 10, using
I need help with writing an rcode to analyze an experiment for a two way layout without replication. There are two factors each with 3 levels.
What are the primary external organizational considerations for the development of a strategic plan? Which consideration is the most important? Why?
Which of the following is an inequality or equation that expresses a restriction in a mathematical model? Decision variable Parameter Objective function Constraint N
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