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A foundry receives an order for specialty castings. Cost of producing each casting is estimated to be $15,000. The customer requires that exactly 4 good castings be supplied. The customer will pay $20,000 for each good casting. If fewer than four good castings are available, none will be purchased. Each casting is produced independently and the probability of an individual casting being acceptable to the customer is .80. 1/ Develop the expected profit function to be maximized? 2/ Determine the production lot size that maximizes expected profit? 3/ Determine the lot size that will yield a probability of .90 of producing at least 4 good castings. What is the expected profit for the lot size obtained?
These are TWO different short answer discussion questions please answer EACH question in the discussion and list references many motivational theories focus on the motivational qua
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1. Education is often used as an indicator of a person's socioeconomic status. Historically, the number of years of schooling completed has been recorded in the census of populatio
Discuss the pros and cons of cumulative voting vice regular voting for Directors of a company. Why would a company choose one over the other? Who benefits from each type: sharehold
The MPS for product A calls for 100 units to be completed in week 4 and 200 units in week 7 (the lead time is 1 week). Spare part demand for Item B is 10 units per week. The bill o
Which among the following frameworks of ethics becomes less practical with an increase in the number of people, animals, etc. that could be affected by decisions made?
Ask que Prepare Paul Jordan’s report to John Smithers using regression analysis. Provide a summary of the cell phone industry outlook as part of Paul’s response. stion #Minimum 100
In this assignment, you will develop a ten item survey that will be given to all applicants at your company. The purpose of this survey is to determine whether the applicant is a p
1. Capacity is the maximum rate of output of a process. 2. Capacity decisions should be made separate from strategic decisions. 3. Capacity can be expressed by output or inpu
Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: PREDICTED DEMA
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