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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?
Know discuss what business you selected and the best possible method for determining the value of the business you selected. Explain your rationale
what mean passing time is not allowed in sequencing problem in operation research
1. Why would the government not tax us for the Employee Benefits we receive? 2. As a percent of payroll, how much does employer pay for Employee Benefits? 3. Explain the defe
A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 50 percent of capacity; actual usage was 52 percent of cap
1) A process oriented layout will minimize the total time spent on setting up machines? 2) By increasing the capacity of an operation you improve its efficiency. 3) Standard
Company A has four plants locating in different cities across the region. There are three markets the company is selling its products to. Currently, each plant can only produce 500
I have already ordered and you all gave me a false link to the reference number above. I want my results now. And I want a refund for being late.
What is Strategic Human Resources Management and how does it link the people with the strategic needs of the business?
Wally and Beaver were general partners in a car dealership. Using the partnership name, Wally entered into a contract to purchase 30 used cars from Car Lots. Car Lots was not aware
When a contract is drawn up that becomes void due to illegality, do you believe that it involves the commission of a crime? Has a crime been committed by either party since the con
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