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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?
(Oscar's Office Building) Oscar is considering getting into the real estate business. He's looking at buying an existing office building for $1.8 million in cash. He wants to estim
A system program that combines the separately compiled modules of a program into a form suitable for execution A. assembler B. linking loader C. cross compiler D. load
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the e-Activity, identify one firm that you think would make a good strategic partner for the company you researched. Provide specific examples of why you think this firm would be a
Explain understanding of human behaviour. Understanding of Human Behaviour: Understanding human behaviour is significant for any one dealing along with human resources. This
Hottenstein, Griffith, and Hult, attorneys at law, do a great deal of printing. The firm uses a single type of printer with annual demand for print cartridges of 480 per year. The
When interviewing, why is it important to try to fill in the gaps in a candidate's employment history?
Major operations management processes Processes Outputs Operations strategy
A loan manager for Bank of Cascades has the responsibility of improving automobile loans. To assist her in this matter, she has compiled data on 428 cars and trucks. This data are
How might a company's business strategy affect the contribution (pay-for-performance) policies and techniques of its Total Compensation system?
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