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The owner of Firewood-2-Go is considering buying a hydraulic wood splitter which sells for $50000. He figures it will cost an additional $80 per cord to purchase and split wood with this machine, while he can sell each cord of split wood for $100.
Demand for cords of wood can be modelled by using a Normal Distribution with a Mean of 2560 units and a Standard Deviation of 60 units. What is the Probability that you will make money using this machine?
A newly opened car wash station has a car wash machine. The machine washes each car in a constant rate of 5 minutes per car. It has been estimated that costumers will arrive accord
Why do some people gravitate toward management jobs as opposed to technical, labour jobs etc.?
1. How do variables and attributes differ? 2. Estimate the mean and standard deviation of the following measurements.
At a border vehicles arrive at the rate of 9 per minute in a Poisson distribution. For simplicity in this problem assume that there is only one lane and one inspector who can inspe
Q1: Explain how the operations function is linked with other business functions in an extended enterprise. Discuss several specific functions and interactions. Q2: What are the
The overall average on a process you are attempting to monitor is 50 units. the process standard deviation is 1.72. Determine the upper and lower control limits for a mean chart, i
You have two job offers, one from a dominant-business firm and one from an unrelated diversified firm (suppose the beginning salaries are virtually identical). Which offer would
Explain what is Controlling. Controlling is defined as which managerial function that seeks to ensure an absolute conformity of actual performance through organizational person
Identify four categories of measures that might constitute a Balanced Scorecard of performance measures and provide an example of each. Also explain how a Balanced Scorecard could
Systembolaget uses forecasting to predict the number of bottles they think they will sell the next day. Below are the number of bottles sold each day during the five-day work week
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