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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?
Describe the nature and components of, and the issues currently facing, executive compensation in various U.S. industries.
Refer to problem 1.13. The pay will be $8 per hour for employees. Charles lacket can also improve the yield by purchasing a new blender. The new blender will mean an increase in hi
Type your question here is transparency in communication a sure winner, or could a manager have problems with it?
System complexity - Boulding taxonomy To obtain an insight into the nature of the system with which the operations manager is dealing, consider the economist Kenneth Boulding
Type your question here to what extent are Michelle Rhees changes consistent with the practical lessons derived from equity theory? Explain.
#questionI want some project of travel chart ..
In terms of developing the project plan, identify which, if any, of the project steps are more integral to the project plan than any others. Support your response
Q. A textile manufacturer is interested in optimally determined inventories for cutting operations for a children’s product line. The production manager would like to establish th
A work sampling study is to be made of a typist pool. It is left that typists are idle 30 % of the time. How many observations should be made in order to have 395.5%
One of the constants in organizations is the presence of change. In almost all change scenarios, human behaviour is impacted. However, organizational members often resist change. W
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