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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?
The product-process matrix used to analyze manufacturing operations brings together the elements of: a) Customization, volume, and process. b) Volume, process, and intensity.
One group of 20 trainees estimated a total overall monthly cost benefit of $336,000 related to business improvements and showed an average 70 percent confidence level with that est
Which stakeholders that was affected by the bp spill situation in America. What is the negative impact on that stakeholder?
Describe the internal and external environments of 2 real world companies using an environmental scan. What competitive advantages does each company have and what strategies are ea
The following table shows the activity details of a project. What the earliest the project can be completed? Activity Days Predecessor ctivities A 4 - B 5 - C 3 A D 5 A E
What are the risks associated with backdoor (maverick) buying and selling? Why is purchasing interested in controlling this business practice?
Please answer a detailed explanation for the following scenario: Your Company has recently hired a new employee for an upper level management position. They have performed exceptio
Suggest some possible strategic initiatives that Sigma could pursue to continue its growth.
National origin discrimination is prohibited against a job applicant or employee. Besides discriminating against the job applicant or employee directly, how else might national ori
Differentiate between (1) exempt and non-exempt employees and (2) line and staff employees.
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