The situation for the hit-and-miss manufacturing

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Reference no: EM131100401

Suppose that the situation for the Hit-and-Miss Manufacturing Co. problem (Example 6) has changed somewhat. After a more careful analysis, you now estimate that each item produced will be acceptable with probability, rather than , so that the probability of producing zero acceptable items in a lot of size L is ()L. Furthermore, there now is only enough time available to make two production runs. Use dynamic programming to determine the new optimal policy for this problem.

Reference no: EM131100401

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