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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?
I need a two paragraph (one page) paper on the organizational change that Starbucks implemented in 2008
Explain the impact that batch size has on flow. Explain why the EOQ formula works.
Go to this website www.worldfranchising.com . Select any of the hottest new franchises that interest you.. View the site and identify the information about the financial requiremen
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A manufacturer sells 150 tables a month at the price of $200 each. For each $1 decrease in price, he can sell 25 more tables. Each table costs $125 to make. (a) The demand (pric
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How are different evaluation or rewards systems a source of conflict?
• Explain why some states do and other states don't have a public-sector bargaining law or laws that cover some public employees but not others. • From the second e-Activity, co
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