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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?
Suppose Park Hyatt wishes to maximize expected profit rather than expected revenue. Illustrate what is optimal protection level for full fare.
If the balance sheet amounts show $2 million of inventory also $500,000 of property, plant & equipment, illustrate what is the inventory turnover.
What personality types should leaders recruit among organizational members?
Describe the Five Stages of Skill Acquisition and how it relates to knowledge creation and creating a learning organization.
As a result people staying at the resort often go to the front desk n concierge areas n occasionally to the coffee shop counter with water dripping from their wet bathing suits. Calculate the success or failure of your choice.
If an extremely intelligent hacker is caught by a law enforcement agency, should that hacker be prosecuted and sent to jail?
The main competitors I have found include Target, Walmart, Apple, Amazon, Radio Shack, HH Gregg, and Sears. If you see any other major competitors that are missing, include them as well.
the manager projects an average demand of between 14 and 18 cars an hour. would you reccomend 1 or 2 lines? explain. also, the car wash is open 300 hours a month.
Examine operational feedback also command/control mechanisms for my global venture. Comprise a suggested organizational chart.
Explain how much air time per month would john need to use before he upgrades from the occasional user plan to the frequent user plan.
The amount invested in personal loans cannot exceed the amount invested in bonds. The amount invested in home loans cannot exceed the amount invested in auto loans
Estimated idle time of a fork lift truck is 40%. Relative accuracy desired = +/- 10%; Desired confidence level = 95%. How many observations (n) are required?
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