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José and María run a small surf-board shop in Rincon. They must order surf-boards for the coming season. Orders for the surf-boards must be placed in quantities of twenty (20). The cost per surf-board is $70 if they order 20, $67 if they order 40, $65 if they order 60, and $64 if they order 80. The surf-boards will be sold for $100 each. Any surf-boards left over at the end of the season can be sold (for certain) at $45 each. If José and María run out of surf-boards during the season, then they will suffer a loss of "goodwill" among their customers. They estimate this goodwill loss to be $5 per customer who was unable to buy a surf-board. José and María estimate that the demand for surf-boards this season will be 10, 30, 50, or 70 surf-boards with probabilities of 0.2, 0.4, 0.3, and 0.1 respectively.
Explain how many surf-boards they should buy, based on the Expected Value Criterion, Minimax Criterion and the Maximax criterion. Which is more reliable and why?
A CD player has 3 components that all must function for the player to work. The average reliability of each component is 0.86. What is the reliability of the CD player? (Round your answer to 4 decimal places, the tolerance is +/-0.0005)
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Compare or contrast managing conflict resolutions using the instrumental-oriented conflict approach and the expressive-oriented conflict approach
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1. dee and carol are owners of a company supplying tin cans to countries at war. this war tin company has had a history
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A quality manager is developing a regression model to predict the total number of defects as a function of the day of week the item is produced. Production runs are done 10 hours a day, 7 days a week. The dependent variable is __
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Given the following line balance data: Task Predecessor Time (seconds) t ---- 15 u t 14 v t 7 w u 6 x v 8 y w, x 10 z y 21 draw the precedence diagram of the process. What is the minimum possible cycle time?
Which one of the following statements concerning supplier relationship process is FALSE?
Mary kaye snyder, assistant manager of customer services, has estimated the following information: D= 800 buckles per year HC = $3 per buckle per year OC = $20 per order How many buckles should Mary Kaye order at one time? Determine the total annu..
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