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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?
Cause and effect diagram
I am in need of a couple of suggestions for a Supply and Chain term paper. I was thinking about "Money" Any help will be highly appreciate it.
Slighty Used Goods has Cash of $2,150 inventory of $28,470, fixed assets of $9,860, accounts payable of $11,900, and account receivable of $4,660. What is the cash ratio?
Helter Industires, a company that produces a line of women's bathing suits, hires temporaries to help produce its summer product demand. For the current four-month rolling schedule
Project managers frequently face competing constraints. Identify these common constraints and describe approaches that project managers can use to make the trade-offs required to s
How can controlling help a manager to become more efficient?
Base on the case study: Weldon Hand Tools; Design a layout for the assembly operation (to include the fly press work) including the tasks to be performed at each part of the system
Master Production Scheduling
As the industry watches to see how United Airlines' strategy performs against American Airlines' strategy, management at United Airlines is anxiously monitoring market signs to det
Metal Fabricators just issued $1,000 par 20-year bonds. The bonds sold for $758.18 and pay interest semi-annually. Investors require a rate of 9% on the bonds. What is the bonds' c
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