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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?
How proper evaluations help develop an employee to benifit a company in a postive way VS. No evaluations. This course requires a 1,600-word term paper (measured from abstract to ju
Document three types of cost and determine which is the most difficult to control. Support your response and identify a method(s) that would enable you to overcome the difficulty.
Kelly Trucking, Inc., is planning a new warehouse to serve the western United States. Denver, Santa Fe, and Salt Lake City are under consideration. For each location, annual fixed
Explain Economic Order Quantity and Total Cost. Economic Order Quantity and Total Cost: The total sum of Inventory procurement cost and inventory carrying cost is total cost.
There is a fixed cost of$50,000 to start a production process. Once the process has begun, the variable cost per unit is $25. The revenue per unit is projected to be $45. Expressio
A food processor uses approximately 29,730 glass jars a month for its fruit juice product. Because of storage limitations, a lot size of 4,000 jars has been used. Monthly holding c
Please explain in detail what you would do for the following scenario: You have just finished laying off 25 people because of a need to cut costs. You are then invited to a managem
Is work measurement used in Organisation - Process Design Is work measurement used in your own organisation? If not, then give thought to how: alternative methods are compared
Which three dimensions are presented in Morgan's model of IHRM? a) Types of employees, countries and industries b) Types of employees, countries and HR activities c) Types
Question 1: Describe the main growth strategies that a firm can pursue and discuss conditions that favour each strategic option. Support your answer with suitable examples.
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