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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 state statute empowered public school principals to suspend students for up to ten days without any notice or hearing. A student who was suspended for ten days challenges the con
1. Are there different types of operations systems? Ans: Yes, characteristics show that manufacturing companies break down into categories as do service organisations. Once the
How might Verwaayen contribute to organizational learning at Alcatel-Lucent?
Joyce is a problem employee. She is often late and does low-quality work. The shop steward sees the performance problems. One day a new position opens and Joyce applies for it b
Ultimate Objective 1. Manufacturing costs: The unit cost of the product should be estimated carefully and every effort should be made to stick to the cost standards. For
Routing Meaning and Definition Routing is the first but the important and difficult task of the production control. Routing means determination of path or route on whic
In what ways if anywhere biases stereotypes or overt discrimination involved in this situation?
How the expected time estimate is calculated in PERT ? In PERT the expected time estimate is computed on the basis of Beta distribution of time estimates.
Which of the following is an inequality or equation that expresses a restriction in a mathematical model? Decision variable Parameter Objective function Constraint N
Develop a decision tree for the case of a company is operating at full capacity and with product demand rising. The choice is between new equipment and overtime. A 20% rise in sale
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