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Downtime in manufacturing is costly and can result in late deliveries, backlogs, failure to meet orders, and even loss of market share. Suppose a manufacturing plant has been averaging 23 minutes of downtime per day for the past several years, but during the past year, there has been a significant effort by both management and production workers to reduce downtime. In an effort to determine if downtime has been significantly reduced, company productivity researchers have randomly sampled 31 days over the past several months from company records and have recorded the daily downtimes shown below in minutes. Use these data and an alpha of .01 to test to determine if downtime has been significantly reduced. Assume that daily downtimes are normally distributed in the population. 19 22 17 19 32 24 16 18 27 17 24 19 23 27 28 19 17 18 26 22 19 15 18 25 23 19 26 21 16 21 24
The management of its loan department is preparing hiring plans for the next year, particularly the ideal staffing level for loan representatives (who care called loan reps). Based on past and planned future sales of loans, Oregon great forecasts the..
The pharmacist at Arnold Palmer Hospital, Wende Huehn- Brown, receives 15 requests for prescriptions each hour, Poisson distributed. It takes her a mean time of 3 minutes to fill each, following a negative exponential distribution. Use the waiting- l..
Choose a business policy (e.g., No Smoking Policy) to analyze preferably a policy where you work or have worked in the past. 1. Analyze and evaluate the policy.
A weekly meeting is scheduled for every Thursday at 7:00 a.m. central time for a virtual team responsible for defining a new quality improvement process. Every week, the meeting starts about 10 to 20 minutes late. Some of the key attendees are not fa..
Nathan Ltd manufactures corrugated cardboard boxes. It competes and plans to grow by selling high-quality boxes at a low price and by delivering them to customers quickly after receiving customers' orders. Is Nathan's 2015 strategy one of product di..
What potential benefits and risks do RFID tags have for inventory management?
Given the following diagram for a product, determine the quantity of each component request to assemble one unit of the finished product. Draw a tree diagram for a stapler given the following bill of materials
You made it through your first two weeks as a controller. It is May 15th and the end of month is May 31st. The prior controller took two weeks to close the books and management has found this unacceptable. Discuss some processes and procedures that y..
It was August 2009. Chris Fraser, president, Supply Chain International for VF Brands, was driving to his office just outside Milan near Lake Como. On this sunny morning, the sparkling lake was a picture of tranquility, a striking contrast to the ..
Describe to a CIO of a hypothetical Fortune 500 company what the differences are between qualitative and quantitative risk. Inform him/her of three areas in which there must be a focus for risk management and the threshold that may or may not be acce..
Which behaviors, thinking approaches, emotional stances, decisions, and business management actions can be found in the two readings that pertain to adaptability
Find the price at which Analog's stock should sell. Calculate the P/E ratio. Calculate the present value of growth opportunities.
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