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Monsanto is a large bio firm that sells genetically modified seed to farmers. They need to decide how much seed to put into a warehouse to serve demand for the next growing season. They will make one quantity decision. It costs Montanso $8 to make each kilogram (kg) of seed. They sell each kg for $45. If they have more seed than demanded by the local farmers, the remaining seed is sent overseas. Unfortunately, they only earn $3 per kg from the overseas market (but this is better than destroying the seed because it cannot be stored until next year). If demand exceeds their quantity, then the sales are lost - the farmers go to another supplier. As a forecast for demand they will use a normal distribution with a mean of 300,000 and a standard deviation of 106,000. How many kilograms should they place in this warehouse before the 2011 growing season?
A Las Vegas supermarket bakery must decide explains how many wedding cakes to prepare for upcoming weekend. Explain how many cakes should be prepared to maximize expected profit.
Develop a linear programming model that will enable HTS to allocate technician time between regular customers and new customers. Find the optimal solution.
Suppose which daily usage is normal also which it has a standard deviation of 1.5 gallons per day. Elucidate what ROP is appropriate if the acceptable risk of a stock out is 2 %.
Which internal parties and external parties must procurement consult with when considering whether to produce a product in-house or outsource?
A large law firm uses an average of 25 boxes of copier paper a day. The firm operates 250 days a year. Storage and handling costs for the paper are $20 a year per box
Illustrate what is the multifactor productivity ratio for Med-Tech. Illustrate what does you find outing mean.
f the flight is overbooked, the airline has a policy of getting the consumer on the next available flight also giving the person a free round-trip ticket on a future flight. The cost of this free round-trip ticket averages $263.
A project requires completion of activities A, B, C, D, E, F, G, H, I and J.Additionally, there are two other logic relationships. Activity ‘H' can start only after 3 days have elapsed following the completion of activity ‘E'.
elucidate how would you rate this performance, other things being equal. Illustrate what kind of engineering savings is Regal achieving by using CAD technology rather than traditional drafting techniques.
A large scale pharmaceutical manufacturing company estimates, based on a shipping fee of $1000 per order, that they can optimally balance inventory holding costs and shipping costs for one of their frequently used chemicals if they receive shipments ..
A 3% increase in the annual base wage that is accompanied by a 5% increase in worker productivity. Increased spending for best practices training
A motor grader requires two passes at 2 miles per hour, two passes at 3 miles per hour, and one pass at 4 miles per hour to accomplish the work
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