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Jim is a CFO of a mid-sized construction company. One of his key tasks is to ensure that the company has sufficient cash to pay its daily and hourly workers who are hired whenever need arises. The company operates all 365 days a year and Jim estimates that on any day his payroll is Normally distributed with mean $25,000 and standard deviation $7,000. Jim manages his cash reserves using the order-up-to model: each morning he places an order for cash with the bank and the armored vehicle arrives 2 days later with the money. It is company's policy to pay all workers on the same day, but in rare cases when the company runs out of cash it pays workers as soon as possible while increasing their paycheck by 1% for each day of delay. For each dollar carried the company incurs 15% cost annually which includes cost of capital and insurance.
What is the profit-maximizing order-up-to level for cash? (do not include $ sign)
Discuss how corporate culture is displayed and its role on quality management behavior? Provide multiple examples.
What are the primary external organizational considerations for the development of a strategic plan? Which consideration is the most important? Why?
Write the Optimal Solution Note: The Optimal Solutions should include the optimal values for the non-zero variables as well as the objective function.
What is a job analysis (e.g., what data is gathered, who is involved, what methods are available, etc.) and the uses of job analysis data?
The foreman estimates which the value of the work actually finished is about $162, 000. Illustrate what are the spending also schedule variances for the project. Illustrate what are the SPI also CPI.
what is test marketing? explain why companies may or may not test market products and discuss alternatives to full test markets.
Sales of vegetable dehydrators at Bud Banis' discount department store in St. Louis over the past year are shown below. Management prepared a forecast using a combination of exponential smoothing and its collective judgment for the upcoming four m..
Three stores in the vicinity sell earplugs: EarsPlus, 10 minutes away; ICantBelieveYouBoughtHeraTrombone, 15 minutes away; and KidNoise, 20 minutes away. According to the gravity model, what is the probability that Rich will go to each store?
Imagine you are an administrator in a small, rural mental health facility, and you are dealing with a growing trend in mental illnesses in your community. Outline a plan to assess the ability to provide services to your mental health patients.
Due to rapid changes in technology, a telecommunications manufacture decides to produce a router using just-in-time methods.
Which type of product development effort would be better suited to concurrent engineering—a radically new product involving cutting-edge product engineering technologies or the latest version of an existing product? Explain. In addition, there are se..
Jimmy runs a business in his basement that spin aligns and marks golf balls with logos for tournaments. The automated machine goes through three serial steps; the first step takes 15 seconds.
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