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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?
What are the factors to effect capacity levels? Factors effecting capacity levels are as follows: • Resources accessible for example, labour and skills, machine time and
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1. Discuss the advantages and disadvantages of diversity in the work place 2. Discuss some of the legal guidelines in place to protect diversity in the workplace 3. Identify
Marta is 57 and has been a store manager for Ambrose & Company for 10 years. Ambrose & Company is a retail store for fashion forward women. Ambrose undergoes a restructuring and re
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The following table shows a tool and die company's quarterly sales for the current year. What sales would you predict for the first quarter of next year? Quarter relatives are SR1=
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