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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?
• Analyze the article's perspectives concerning talent management and technology issues. • Suggest strategies for evaluating HRM-r technologies financial impact of talent manage
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Discuss innovative and creative ways to use the patient ID bracelet containing a bar-code representation of the patient's ID and a bar-code scanner that could lead to improved qual
1. Construct and inspect a control chart for the packing slip data. 2. Construct a Pareto analysis of the errors. 3. What information might a separate chart for each error ca
A Chicago-based manufacturer is looking for someone to handle its shipments to the West Coast. In order to evaluate potential transportation providers, the manufacturer has develop
What are some of the measures that governments can take to deter, detect, and prevent terrorists organized in small groups, bunch of guys (BOG) groups, cellular organizations, or a
Question 1: What are the main characteristics of a Supply Chain? Mutually linked companies and Supplier-Customer relationships Gathers products from supplier to customer al
Question: (a) In relation to an organisation with which you are familiar, critically discuss how an operations manager can make operations different using the five operatio
Explain Job Evaluation. A combination of short statements which describe both the necessary requirements of the particular job and the work to be performed is termed as Job Eva
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