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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?
Examine two primary causes of HR failure in multinational ventures. Provide an analysis that describes the manner in which each of these causes can be overcome by having the approp
How is production levelling related to 5S and Value Stream Mapping?
Business knowledge competencies are particularly important for which human resource role? Answer A) management developer B) employee advocate C) strategic partner D) functional exp
What is the difference between personal and business ethics?
1. A manufacturing shop is designed to operate most efficiently at an output of 550 units per day. In the past month the plant produced 490 units. What was its capacity utilization
McDonalds Inventory $128.40Revenue $17, 140.50COGS $ 11943, 70Gross Profit $5,196.80 Wendy's Inventory: $54.40Revenue: 3148.90COGS: 1634.60Gross Profit: 1514.40 A. What were
1. What challenges have managers at some technology companies faced in terms of managing human resources? 2. How do managers at some technology companies that invest resources in r
Product contamination is a catastrophic event, both for the organization at fault and for the victims. Cases of product contamination frequently make the news. Find an example o
Process Based Layout In this layout machines and services are grouped on a functional basis operation of the same type are performed in the same area. For example all welding
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