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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?
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
Economic Feasibility and Behavioural Feasibility Economic Feasibility The value added by the job should exceed, by an acceptable margin, the costs incurred in carrying o
In a project, executive and boss are working together. The executive can be sincere or insincere, and the Boss can either reward or penalize. The executive gets no advantage for b
For simplicity, assume that each plane landing between 6am and 8am carries 240 passengers, 75% EU and 25% non-EU citizens. Passengers from each flight continuously join (at a const
1. Create an IS strategy for your organisation. 2. Give examples of the Data, Information and Knowledge that are used in your organisation. 3. How would the idea of sustaini
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In terms of developing a project plan, specifically recommend how this resource could expedite that process.
Complete the Leadership in Action Ikea case on page 142-143 in your textbook on pernille spiers-lopez assembles a winning team at ikea .Answering the case questions involves ident
A manufacturing company sells its products directly to customers and operates 5 days a week, 52 weeks a year. The production department of this company can produce at the rate of 6
Describe the generic product development process described in this chapter. How does this process change for "technology push" products?
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