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A job shop receives an order for high precision formed parts. The cost of producing each part is approximately $20,000. The customer requires that either 4 or 5 good parts be supplied. Each good part sold will yield $30,000. However, if fewer than 4 good parts are produced, none will be purchased. The probability of an individual part being acceptable to the customer is .80. Determine the optimum batch production quantity given that the job shop has agreed to supply the formed parts. Is the situation a profitable one for the job shop? If not, how must the selling price be changed for the expected profit to be positive?
What is the difference between using an exact optimization technique and a heuristic to solve a problem?
When interviewing, why is it important to try to fill in the gaps in a candidate's employment history?
Given this information: Lead-time demand = 630 pounds Standard deviation of lead time demand = 40 pounds (Assume normality.) Acceptable stockout risk during lead time = 4
Name two significant differences between X.25 and frame relay?
Access how technology and the changing demands of customers have impacted the movie business. Suggest a strategy for Netflix's to prevent a new entrant into the marketplace and dem
Which strategy is assisting in an organisation? Organisational flexibility will assist the organisation accomplish short lead times needed while meeting customer demands, assis
Aspects of Operation Strategy There are three levels of strategy hierarchy illustrated in the following table: Van der Heijden (1997) suggests that there are three sc
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phases of Operations Research
List and explain some of the important factors to be considered when selecting a new location for a hospital to be built from some potential site
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