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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?
What are the four major goals for IT? How are the four goals achieved? How does the integration of IT improve the management of supply chains?
How must organisations have the flexibility to demand occur? Forecasting demand can be complicated and unreliable into an uncertain environment. Therefore a balance requires to
Product Layout - Disconnected Flow any products or components (eg toys, shoes, many electronic components) are required in volumes which do not justify continuous operation,
In what kind of ways did these mangers respond to these challah for example in their approaches to planning leading organizing and controlling?
is this real
You are the contracting officer's representative (COR) of a program management support contract awarded to Easy Corp. It is the first year of a five-year contract. You have noti
Evaluate the statement: "In lean operations, when work is completed at one work center, it is important to immediately move the completed work to the next work center to minimize i
Review the "Noodles and Company - Service Process Design" Could Noodles restaurant's service operation be successful by combining the characteristics of the three contrasting servi
Project managers frequently face competing constraints. Identify these common constraints and describe approaches that project managers can use to make the trade-offs required to s
Decisions about pay structure in global companies affects: Answer (1) a company's financial and operational requirements. (2) The cost and availability of qualified workers. (3) Th
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