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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?
1. Time How has time affected the Safetydrape product? a. The time dimension has not affected Safetydrape at all. b. The time dimension has had a huge effect on Safetydrap
Bill and Farrah have been recently hired by Superior Stereo Systems, a cutting-edge manufacturer of stereo speakers. Both Bill and Farrah have been assigned to work on two product
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Linear objective function & non linear objective function.
Solve the Rat in A Maze problem using backtracking.
You are a newly appointed VP of a large oil drilling firm. One of your tasks is to develop a crisis management program for the company. Outline the basic steps in such a program
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How does the transformation process apply to the field of construction management, and how you might apply the basic concepts?
Heather Adams, production manager for a Colorado exercise equipment, needs to schedule an order for 50 Ultimate Steppers, which are to be shipped in week 8. Subscripts indicate qua
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