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1. John is looking into buying a used car. John has two options: - Honda Civic at 15000$ which gives a mileage of 26 miles/Gallon. - Toyota Corolla at 20000$ which gives a mileage of 33 miles/Gallon.John is not sure about both the mileage and fuel price. The uncertainty of mileage is that of Table and Fuel price uncertainty follows beta distribution with pessimistic price being 3.92$/Gallon, most likely being 3.55$/Gallon and optimistic price being 3.01$/Gallon. 1. Determine the low cost car for John and draw a graph illustrating a crossover or indifference or break even point?Table Mileage and their probabilitiesProbability John would be travelling0.1 50000 miles0.3 75000 miles0.35 100000 miles0.25 200000 milesQuestion 2. The annual demand, ordering cost, and the annual inventory carrying cost rate for a certain item are D = 600 units, S = $20/order and I = 20% of item price. Price is established by the Table 3 quantity discount schedule. What should the order quantity be in order to minimize the total annual cost?Quantity discount scheduleQuantity 1 to 49 50 to 249 250 and upPrice $5.00 per unit $4.50 per unit $4.10 per unit
Myrtle Air Express decided to offer direct service from Cleveland to Myrtle Beach. Management must decide between a full-price service using the company's new fleet of jet aircraft and a discount service using smaller capacity commuter planes.
Develop three examples that illustrate how a manufacturing company of your choice uses JIT, and then determine three to four benefits of JIT for that particular organization. Provide specific examples to support your rationale.
Another clause says that "the supplier will be liable for any and all product failures in the hands of the end customer unless said supplier can prove that its part or component was not related to, or complicit in, such failures." Do you accept th..
Communication is so crucial in the business world. Communication is best conveyed in the workplace by what means?
For a customer service operation, elucidate how each of these two approaches could be used to address the complaints which are being received from the customers about the poor customer service.
A firm has redesigned its production process so that it now takes 10 hours for a unit to be made. Using the old process, it took 15 hours to make a unit
Describe and contrast the rights of bond holders and preferred stockholders. Which has the best position in a default, which one would you buy all other things being equal.
With the growth of Hard Rock Cafe - from one pub in London in 1971 to more than 110 restaurants in more than 40 countries today - came a corporate wide demand for better forecasting.
The foreman states that he spends twice as much time supervising A and half as much time supervising B,compared with the average time spent supervising his other subordinates.
It is normally distributed also has a criterion deviation of 2 days. Illustrate what is the probability of a stock out during lead time.
Suppose which Always Rain Irrigation's marketing department will undertake an intense ad campaign for the bronze sprinklers which are more expensive however also more durable than the plastic ones. Forecast demand for the next four years.
Identify and describe the three zones associated with buffers. Explain your answer in detail. JIT is a broad philosophy that pursues three main goals. What are they.
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