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Suppose that at any period of time a photo-copier machine can either be working properly, in need of maintenance, in need of minor repair, or in need of major repair. If the photocopier is working, the chances that it will require maintenance, minor repair, or major repair in the next time period are respectively 0:15, 0:05, 0:03. Assume that the probability that the maintenance is successfully done in the next period is 1, the probability that the minor repair is successfully done in the next period is 0:8, and the probability that the major repair is successfully done in the next period is 0:5. Construct a Markov Chain and its steady-state probabilities that would allow you to answer the following question: If the owner of the photocopier has to pay $10 for every period that it is not working properly, what is the expected cost per period of the photocopy
Compare and contrast the Quality Circle and High Involvement applications of employee involvement
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Is there one best time for performance appraisal? Explain
Assume that the risk-free rate is 7.0% and the expected return on the market is 8%. What is the required rate of return on a stock with a beta of 1.4? Round your answer to two deci
Transportation Problem in Linear Programming
Complete the below table. Which one of these techniques would you recommend to use and indicate your rationale. Technique Ave Bias Ave MAD MSE Ave MAPE Naïve 4 Per MA Exp Smooth Th
An assembly line is to be designed to operate 7 1/2 hours per day and supply a steady demand of 300 units per day. Here are the tasks and their performance times: PRECEDING Perf
1. Define productivity both as a mathematical ratio and as a systems diagram? 2. Outline how the productivity of an organisation may be improved. 3. Discuss the factors aff
Explain relatively distinct leadership styles. The three relatively distinct leadership styles are as follows: a) Authoritarian - leader makes all decisions unilaterally an
Netflix would be an example of which of the following approaches to managing customer induced variation? Cost penalties Uncompromised reduction Classic reduction Classic accomm
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