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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?
The XYZ Paint Shop owns and operates a dozen shops in northern Illinois. Their signature paint is diamond polished candy apple red lacquer. Sales (X, in millions of dollars) is rel
Which of the following best shows forces for change vs. forces for stability? Change forces are: adapting, sustaining, and predicting; whereas stability forces are: bureaucracy, tr
2 enterprises (1 and 2), are in competition with each other by choosing advertising expenditures. The payoff functions of the two enterprises, if enterprise 1 chooses to spend x an
I have a take home exam that I need to be solved 100 % correct , please . I need it within 23 hours EXACTLY from now please . Thank you so much and I am really looking forward to s
Q 1 The probability associated with rejecting a high quality lot is denoted in acceptance sampling with the Greek letter alpha. Q 2 Quality control charts usually have a central
In December, general motors produced 7,200 customized vans at its plant in Detroit. The labor productivity at this plant is known to have been 0.10 vans per labor hour during that
You viewed two video resources, Designing a Database and Relational Schema of the "Priscilla/Dave" project. At the end of the logical design phase, there were five tables (Pet, Pet
Six samples of subgroup size 5 (n=5) were collected. Determine the upper control limit (UCL) for an X-Bar chart if the mean of the sample averages is 4.7 and the mean of the samp
If a pilot test revealed 45% perceived poor service quality, and we decide the interval range is + 10 percent with a 95% confidence level, what is the calculated sample size to con
The first step in segmenting and targeting markets is to recognize a need. group potential buyers into segments. create product groupings. estimate size of the overall
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