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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?
A single machine work center has five jobs assigned to it. They are labelled, in the order of their arrival in the shop, as jobs A, B, C, D and E. The work center may work on only
Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local gasoline station. Also shown are actual de
If Bill decides to enter the world of ecommerce, which of the ecommerce models (business-to-business, customer-to-business, business-to-customer, or customer-to-customer) would you
define the following key terms in product layout: a) Product interval time b) Product duration (throughput time) c) Assembly line balancing
Process Design New product is not realities unit they are manufactured. Process design is necessary to manufacture new products. Process design is concerned with the overall
Which of the following is an advantage of using spread spectrum signalling over narrowband signalling? a. Spread spectrum is easier to install b. Spread spectrum is more secu
i need help in my assignment
Harrison Clothiers' stock currently sells for $26.00 a share. It just paid a dividend of $2.25 a share (i.e., D0 = 2.25). The dividend is expected to grow at a constant rate of 7%
Discuss the advantages of using work sampling to understand how employees allocate their time among work activities.
CPM problems
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