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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?
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
Oregon Productivity Matrix - Performance Measures The Oregon productivity matrix (OPM) was developed in Oregon State University in 1986 and measures accomplishments against go
Illustrate the strategic positioning tools? Strategic positioning tools according to Reck and Long: • Passive (as clerical and transaction based) purchasing functions only o
Kristina places an order for a cake on Flowers bakery's web site. She then calls the baker to tell him that she will pay him $1000 for the specially designed cake if he will guaran
Do you believe that MBO is appropriate for an organization where the primary output is innovation? If not why not? If so, how would you apply MBO to improve the innovation process
Your boss would like for you to suggest changes that would significant shorten it. what would you suggest?
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Briefly describe McDonald's value chain and discuss how information systems facilitate each component in the chain. How could information technology improve your next trip to McDon
I-mart is a discount optical shop that can fill most prescription orders in around 1 hour. The management is analyzing the processes at the store. There currently is one person ass
There are tangible and intangible strategies that organizations can evaluate their system effectiveness on. Based on Tangible value, Revenue increase, Cost decrease---labour, mater
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