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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?
Process Selection and Process Design Having identified alternative process sequences and process span choices, the question then to be answered is which of the configurations
Harrison Clothiers' stock currently sells for $26.00 a share. It just paid a dividend of $2.25 a share (i.e., D0 = 2.25). The dividend is expected to grow at a constant rate of 7%
Write a one/two-¬page discussion of training program development costs discussing how companies may find ways to make training programs more cost effective.
Productivity Boundary and Operating Efficiencies In an alternative approach, Porter (1996) attempts to resolve the issue of trade-offs by introducing the concept of a producti
Wendys opens a drive through with one cashier and one food preparer. Customers will first enter the "place order" line to meet the cashier and then enter the "pick up" line to get
In your own words, what do you think acquisition management is and what are your impressions on how it is done in the DoD?
Why is project management popular tool in recent years?
What are major and minor decisions? Decision with regard to financial outlay can be minor or major. A decision concerned to the purchase of a CNC machine costing several lakhs
Ford's (Case 4) challenge in meeting the needs of shareholders versus stakeholders. What ethical challenges and dilemmas might this pose? How should a corporate strategy be adju
Race One Motors is an Indonesian car manufacturer. At its largest manufacturing facility, in Jakarta, the company produces subcomponents at a rate of 300 per day, and it uses these
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