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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. 1/ Determine the optimum batch production quantity given that the job shop has agreed to supply the formed parts. 2/ Is the situation a profitable one for the job shop? I 3/ If not, how must the selling price be changed for the expected profit to be positive?
A manufacturing company would like to measure total factor productivity and labor productivity. Given the following data for the last 3 years, find the total factor and labor ratio
You have a lease on an oil and gas property with 87.5% NRI that delivers your firm annual profits of $400,000 for five years, with equal production in each year (you will need to t
Gibson Golf Clubs manufactures titanium golf clubs and sells them in retail outlets all over the U.S. and Europe. GGC is revising its current pricing structure. Would the following
Recently the managers for a large retail department store stated that a study has revealed that female shoppers spend on average 23.5 minutes longer in the store per visit than do
It is generally not appropriate to apply control charts to the same data that were used to derive the mean and limits. Why? What are the two possible outcomes if this is done, how
Why do you think many managers are surprised by environmental changes and hence are less able to help their organizations adapt?
Taking the topic you discussed in the other thread to start, explain how you would morph the traditional training you described, taking into account a technology-based training. De
1) Should Jeff go ahead and place the order he knows is coming and win the contest while risking the anger of Ron Yokum? 2) How much latitude should a salesperson assume in clos
The BackPack Company produces a line of backpacks. The manager, Jill Nicholas, has decided that the BackPack Company must have very good customer service. She has asked you to d
"New Technologies" Please respond to the following: •Analyze the recent applications of electronic data interchange in the health care field and determine which is the most promisi
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