What is probability that you will make money using machine

Assignment Help Operation Management

Reference no: EM131711978

Problem 1: Given the following information:

Effective capacity = 50 units per day

Design capacity = 90 units per day

Actual output = 35 units per day

Utilization =

Problem 2: The owner of Firewood To Go is considering buying a hydraulic wood splitter which sells for $70000. He figures it will cost an additional $60 per cord to purchase and split wood with this machine, while he can sell each cord of split wood for $180. How many cords of wood would he have to split with this machine to break even?

Problem 3:

The owner of Firewood To Go is considering buying a hydraulic wood splitter which sells for $50000. He figures it will cost an additional $100 per cord to purchase and split wood with this machine, while he can sell each cord of split wood for $120.

Demand for cords of wood can be modeled by using a Normal Distribution with a Mean of 2400 units and a Standard Deviation of 100 units. What is the Probability that you will make money using this machine?

Reference no: EM131711978

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