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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?
Breakeven Problem 1. Avila Manufacturing plans to increase capacity by adding new equipment. They have received two proposals. Fixed CostVariable Cost/Unit Proposal A $32,
The emergency room serves patients who arrive according to a Poisson distribution at the rate of 9 per hour. Treatment takes an average of 6 minutes and the treatment times can be
Disney entered Europe with several incorrect assumptions and poor research. Identify the problems that arose and how Disney should adjust for the immediate situation and what shoul
when asked to critically discuss main factors that influence process design within a familiar organisation, does this mean a breakdown of the company''s design process or an analys
Appraising Employees at the San Diego Zoo
Develop an 8 to 10 page marketing plan for a sports enterprise (e.g. professional, school or community program). You will take the position of the manager and develop a plan that y
Describe BP'S first problem, which involved the firms IT function. Discuss BP'S solution to this problem.
Shipping charges of $0.50 per pair on all pairs shipped to distribution centers in the same region as the production plant and $1.00 on all pairs shipped from one region to another
As a manager, you are expected to make logical, rational decisions that are in the best interests of the organization. However, the best decision isn't always made. Let's discuss w
(Shillings) You are traveling abroad and have only American dollars with you. You are currently in the capital but you will soon be heading out to a small town for an extended sta
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