Describe what is the probability that you will make money, Operation Management

Assignment Help:

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?

Your Answer = _________________ 


Related Discussions:- Describe what is the probability that you will make money

Explain competitive position through differentiation, In both Europe and No...

In both Europe and North America, established airlines are desperately cutting costs in order to compete with the increasing number of budget airlines. However, it is highly unlike

Explain what''s your opinion about compensation, 1. Does your company's com...

1. Does your company's compensation plans help to attract and retain people with the right skills, knowledge and motivation to help the company succeed? Explain. 2. Is your comp

Explain what is the multifactor percentage change in product, 1. Long Beach...

1. Long Beach Bank employs three loan officers, each working eight hours per day. Each officer processes an average of five loans per day. The bank's payroll cost for the officers

Would like for you to advice changes that would significant, Your boss woul...

Your boss would like for you to suggest changes that would significant shorten it. what would you suggest?

Describe what will be the duration of management conference, What will be t...

What will be the duration of a management conference duration?

What are the ways in which corporations can demonstrate, What are three way...

What are three ways in which corporations can demonstrate a sense of social responsibility?

Explain a new model for economic development, Please Make Summary (New vent...

Please Make Summary (New venture creation Chapter 7 case study -Northwest Community Ventures fund) by small titles: Grassroots Business Initiatives, Inc. /Community Development Ven

How to avoid penalties, Select an article relating to workplace safety and...

Select an article relating to workplace safety and answer the following questions: 1. briefly summarize the article 2. What alternatives could the place of business have taken in o

Production Planning & Control, All of the following are time phasing requir...

All of the following are time phasing requirement of an MRP logic except Options Gross requirement will occur at the middle of a period On hand inventory will be measured

Conscientiousness is a big five dimension that includes, Conscientiousness ...

Conscientiousness is a big five dimension that involve the traits of being-----------------1.unworried; secure and relax/2.imaginative and broad minded/3.responsiable; dependable a

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd