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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?
In the table given below the Distribution Manager is expected to service these DCs as per the demands placed. If the actual sales after completing week one is as follows, what woul
The lifetime of a battery is normally distributed with a mean life of 40 hours and a standard deviation of 1.2 hours. Find the probability to a z-value of 4.16 in 0.9998 a. A rando
1. A venture capitalist company had invested in five new businesses during the last year. The results at the end of one year were as follows: Business A: Loss $500,000, Business B:
Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given 10 marks in the matrix below. Determine the optimal assignment. Which operator will have no a
Develop an Emergency Evacuation Plan Explain what disaster(s) you might experience and what plans you would put in place to protect yourself, your possessions, and your loved on
What is the present value of the following annuities? a. $2,500 a year for 10 years discounted back to the present at 7% b. $70 a year for 3 years discounted back to the pres
Explain important traits are required for a coach of a cricket team. The three important traits needed for a coach of a cricket team are:- (i) Decisiveness - The coach is c
Most organizations possess some formal organizational chart showing the established lines of authority and the division of labour. Generally, formal processes of communication are
Why do you think Mary parker Follett's ideas tended to be popular with business people of her day but were ignored by management scholars? Why are her ideas appreciated more today?
define Operational Management Evolution
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