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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?
Three major solutions have been proposed to combat the medical industry conflicts of interest detailed above in this paper. The first solution is embodied in the Physician Payments
Last week employees at Renee's Fashions worked 360 hours to produce 128 garments. Of these, 8 were seconds which were sold at the outlet store for $90 each. The remaining 120 garme
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Your friend shows you some books he took from the bookstore without paying for them. When you question him about it, he says, "Sure I took them. But I'm no different than anybody e
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Describe globalization and how it impacts your current or future position as part of an international workforce.
"Southwest Airlines" Please respond to the following: Assess how Southwest Airlines culture is different from other airline competitors and the resulting impact on business perf
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disconnected or functional layout
Natalie Attired runs a small job shop where garments are made. The job shop employees 8 workers. Each work is paid $10 per hour. During the first week of March, each worker worked
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