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Assume that you begin the game of throwing a dice. In the game, you lose $1 if your dice shows a multiple of 3, or earn $1 otherwise. You have $2 initially, and you nish the game either when you lose all your money or when you earn $4. solve by markov chain
(a) What is the probability that you will earn $4?
(b) How long does it take for you to nish the game?
In the basic EPQ model, if the cost of holding a unit of inventory for a year doubles, and all other values remain constant, will the EPQ value increase or decrease and by what percentage? Show Work
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What do you predict for the future of global air transportation? (Please provide citations)
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Describe how the components of the Hawthorne study are incorporated in current human resource functions. What was the main idea behind this study? How have you been impacted by the components of this study in your current or past work setting
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Suppose that the store wants to consider a stockout strategy. They estimate the cost of back ordering to be $3 per unit per year. What is the optimal policy and cost of such a strategy? Show all work and draw a diagram of this policy.
Like other large airlines, Global Airlines has a points-based incentive program. Customers who who join Global's FreeMiles program earn points by purchasing tickets from Global or by using their member number when purchasing goods and services fro..
Assuming the plant can only be open for 10 hours each day, what is the maximum number of sodas the plant can produce in a day?
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