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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?
Select an organization and discuss what type of information should be protected in a BIA plan. How would you ensure protection of the confidentiality of such information and preven
• Determine the main reasons why a greater involvement in employees' personal lives, as opposed to non-involvement, is inevitable in many international HRM activities, especially i
Rules of the IRS and department of labor determine which workers quailfy as indenpendent contractor?
Problem : Describe how managers may use Queuing Models in the decision making process. Consider there is only one photocopy machine in your organisation. On a typical day, a
Self-managed teams perform entire jobs, rather than specialized assembly-line work.
What challenges may arise if a U.S. project manager moves to a foreign country to manage a project for 5 years? Discuss specific strategies that the U.S. project manager could use
Visit the site: Wheaton, IL Sanitary District. This tour of a wastewater treatment plant is an example of a high-volume, public project. • How is capacity defined at a wastewate
1. In what ways has Samsung's multibusiness model changed overtime? Why did its top managers make these changes? 2. How is Samsung currently performing/ What kinds of changes is
Your in charge of a project at the local community center. The center needs to remodel one of the room in time for the start of a new program. Delays in the project mean that the c
How is the project team structure related to the project manager's authority level?
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