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Dan's Independent Book Store is trying to decide on how many copies of a book to purchase at the start of the upcoming selling season. The book retails at $28.00. The publisher sells the book to Dan at $20.00. Dan will dispose of all of the unsold copies of the book at 50% off the retail price, at the end of the season. Dan estimates that demand for this book during the season is Normal with a mean of 1000 and a standard deviation of 250.
The publisher is thinking of offering the following scheme to Dan. At the end of the season, they will buy back unsold copies at a pre-determined price of $17.00. However, Dan would have to bear the costs of shipping unsold copies back to the publisher at $1.00 per copy. What is the quantity that Dan should order, to maximize his expected profits?
Fatigue is a major safety concern in the aviation industry. How does safety management address fatigue issues yet accomplish the job without incurring more costs in the company.
Jim's Outfitters, Inc., makes custom fancy shirts for cowboys. The shirts could be flawed in various ways, including flaws in the weave or color of the fabric, loose buttons or decorations, wrong dimensions, and uneven stitches.
Why should decision makers who're primarily concerned with the marketing or finance or production know about linear programming?
What are the characteristics of a self-organizing system? How can self-organize principles be utilized to interface with a marketplace? What are the benefits of doing so?
change is everywhere but yet very few people seem to embrace the concept. we are for the most part creatures of habit
What are some of the reasons companies lose control over their business models, and thus their competitive advantage, over time? ( I need excellent answers to these questions, thank you.)
No one (or no organization) would make a decision based off of imperfect information. However, for a variety of reasons, many times organizations have had to function and make decisions based on imperfect information.
Describe the purpose of Statistical Process Control (SPC). Are there certain organizations where this process is more effective? Not as effective? Why?
Most projects completed using traditional project management are done in a weak matrix organization. Most projects completed in an agile project management framework use a strong matrix or pure project environment. Why is this so?
You are the captain of basketball team and have to make decision of playing five. Four players are already selected and you have to make decision among three players named Andrew, Jack and Matt. Assume that only one will be selected and others won..
What is risk? How does risk differ from uncertainty? How does it impact a business? Can a factory be fast, dependable, flexible, produce high-quality products, and still provide poor service from a customer's perspective?
The foreman states that he spends twice as much time supervising A and half as much time supervising B,compared with the average time spent supervising his other subordinates.
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