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A machine is used to produce precision tools. If the machine is in good condition today, then 90% of the time, it will be good condition tomorrow. If the machine is in bad condition today, then 80%of the time, it will be in bad condition tomorrow. If the machine is in good condition, it produces 100 tools per day.
1. Describe this problem by using a Markov chain and explain why it is a Markov chain?2. If the machine is in bad condition, it produces 60 tools per day. On the average, how many tools per day are produced?
1) What is job evaluation? What method(s) of job position evaluation does employer use? Explain why. (Remember, "Job Evaluation" is not the same as "Performance Evaluation.")
The Limited boasts that it can go from the concept for a new garment to the store shelf in 1000 hours. Compare and contrast the implications for supply-chain management for these two retail systems.
Illustrate what is difference between independent also dependant demand in a McDonalds restaurant. Describe optimum preventive maintenance frequency for each of pieces of equipment if breakdown time is normally distributed.
A firm is planning to conduct a study on the quality dimensions of its products and wants to determine the sample size required to estimate the process mean with a sampling error of at most 0.1 at a 90 percentage confidence level.
What are the three elements necessary for the formation of a business contract? What are the six defenses to formation of a contract? Illustrate your definitions with examples of each. Why is contract law so important in our free enterprise econom..
Discuss job outsourcing by assessing its benefit to U.S. firms. Many marketers now believe that teenagers in the developed countries are becoming "global consumers." That is, they all want and buy the same goods and services.
Independent Stock Analyst firm performance assessments SWO 5 Economic news in the countries the firm competes in. OT
Explain how were Pine Valley Furniture's projects initiated. Illustrate what is the focus for each of the new systems.
A 50-person office needs a new color printer to prepare high-speed, multi-page reports for staff projects. The printer must be able to handle both high quality and draft quality color printing back-to-back pages.
To meet investor objectives, management seeks to do which of the following in its present operations as well as shift investment from areas with declining returns to those where improvement is anticipated
Customers demand 2,000 home computers per month(assume that 1 month = 30 days and 360 days = 1 year). What is the optimal production run size? How many production runs must be made each year?
The sensitivity analysis is a simple way to access risk. In our text the author states that a common approach is to estimate NPV based upon an optimistic.
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