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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?
Assess the extent to which Staples has developed a successful multichannel strategy. What factors have contributed to its success?
Describe globalization and how it impacts your current or future position as part of an international workforce.
What is the economic justification for the rapid growth of premium package services?
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If you believe that urine testing in some form might be acceptable, write down the outlines of sound testing program. Who should be tested? Employees? Job applicants? Should there
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The Effects of Leadership on Innovative Program Implementation. Dove, Maria G.; Freeley, Mary Ellen. Delta Kappa Gamma Bulletin, spring 2011, Vol. 77 Issue 3, p25-32. Read this art
If you were Monsanto's CEO, how would you best balance the conflicting needs of the variety of stakeholder groups that Monsanto must successfully engage?
Ashish keeps his inventory in special containers. Each container occupies 10 sq fit of store space. Only 5000 sq ft of the storage space is available. The annual demand fo
You are a manager of a Consulting firm, with 25 employees under your supervision. Employee Motivation appears to be slipping as well as employee performance. Employees seem to have
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