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A foundry receives an order for specialty castings. Cost of producing each casting is estimated to be $15,000. The customer requires that exactly 4 good castings be supplied. The customer will pay $20,000 for each good casting. If fewer than four good castings are available, none will be purchased. Each casting is produced independently and the probability of an individual casting being acceptable to the customer is .80. 1/ Develop the expected profit function to be maximized? 2/ Determine the production lot size that maximizes expected profit? 3/ Determine the lot size that will yield a probability of .90 of producing at least 4 good castings. What is the expected profit for the lot size obtained?
Lifeline, Inc., has sales of $585,000, costs of $273,000, depreciation expense of $71,000, interest expense of $38,000, and a tax rate of 35 percent. What is the net income for thi
First printing has contracts with legal firms in San Francisco to copy their court documents. Daily demand is almost constant at 12,500 pages of documents. The lead time for paper
Memo Motion and Micro Motion Recording Originally based on cine-photography, nowadays video-recording technology is used to record patterns of movement in process activities.
Approaches to Expanding long term Capacity There are two major approaches to expanding the long term capacity viz. All at once and Building a capacity increm
Are the following objective functions for an LP model equivalent? That is, if they are both used, one at a time, to solve a problem with exactly the same constraints, will the opti
This project allows doctor to access their patient's information easily through their local area network and through the internet. They can also update the status of each patient t
From my experience, companies need to factor in the competition and determine their market share. How might a company determine its potential market share?
E - Business or E-Commerce E-commerce (usually referred to by the more encompassing term 'e-business') is few suppliers? defined by IBM's Lou Gestner as being about: Verticall
Resources: University Library, Kudler Fine Foods Virtual Organization Use the Virtual Organization link on the student website to access additional company information on Kudler
DISCUSS THE ADVISABILITY OF USING MODULAR ASSEMBLIES IN MANFACTURING
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