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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?
Discuss the key factors that impact location decisions. As an example, if locating a facility in India, what location decisions would a fast-food chain have to consider as compared
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When it comes to how a team is designed (i.e., members, communication, goals, norms, etc.) and team leadership, which of the following statements is most true based upon the studie
What are: Concurrent Control? Feed forward Control? Feedback Control? Give an example of each.
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Under what circumstances, if any, would a firm be justified in marketing infant formula in a developing country?
MBTI and Keirsey Temperament Sorter Describe the challenges you foresee in using the MBTI instrument or Keirsey Temperament Sorter in a project management situation and how you wo
Last year, the manager of the service department at East Woods Ford instituted a customer opinion program to find out how to improve service. One week after service on a vehicle wa
Existing salary for managers is 45,000 euros (58,567 us dollars) plus bonuses. Average salary for managers in range is 60,000 euros (78,090), no bonuses. Recommendations must inclu
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