How many cases should be produced each day

Assignment Help Operation Management
Reference no: EM13223408

Daily sales of a perishable food product are known to be either 8, 9, 10, or 11 cases with probabilities 0.1, 0.3, 0.4, and 0.2, respectively. The cost of producing one of these is $4 while the selling price is $7. Cases not sold during the day are sold to a food processing plant for $1 each, but cases can only be produced in the morning before the store opens. If you wish to maximize expected profit, how many cases should be produced each day?

Reference no: EM13223408

Questions Cloud

What will approach level of output under perfect competition : Consider a market that consists of n = 2 identical firms. Each firm produces output at a constant average and marginal cost of 2. The market demand curve in this industry p = 20 - 2Q, where Q is market demand and p is price. Firms will choose outp..
Categorize different scheduling procedures for various types : Categorize different scheduling procedures for various types of service operations, such as restaurants, hospitals, and airlines. Your initial post should include explanations and examples and be 200-250 words.
State an equation to show how the base naoh : Write an equation to show how the base NaOH(s) behaves in water. Include states of matter in your answer.
Calculate the capacity of each machine center : Calculate the capacity of each machine center and the capacity of the system.
How many cases should be produced each day : Cases not sold during the day are sold to a food processing plant for $1 each, but cases can only be produced in the morning before the store opens. If you wish to maximize expected profit, how many cases should be produced each day?
Explain enthalpy for a reversible adiabatic expansion : For this system, calculate the change in entropy (ΔS), the change in internal energy (ΔU), and the change in enthalpy (ΔH) for a reversible adiabatic expansion of this gas to a final pressure of 1.10 atm. Also calculate the final temperature (T) a..
Identify the slope and intercepts for the ppf : Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour, assuming she does not do anything else in that hour. She spends 5 hours per day studying. A. Draw Maria's production possibilities frontier (PPF) f..
Pto system and traditional leave system : Identify any additional information you would need to recommend a solution, and explain where you would likely find that information and discuss any issues you would likely encounter if you were to merge the PTO system to a traditional leave system. ..
How to improve productivity in non-hospital organizations : describe how to improve productivity in non-hospital organizations e.g. American Heart Association, Lupus Foundation, Alzheimer's Association etc. What are the differences in applying the model to the non-hospital setting? Are there any special ch..

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd