41. A manager is going to purchase new processing equipment and must decide on the number of spare parts to order with the new equipment. The spares cost $200 each, and any unused spares will have an expected salvage value of $50 each. The probability of usage can be described by this distribution: Number 01 2 3 Probability .10 .50 .25 .15 If a part fails and a spare is not available, two days will needed to obtain a replacement and install it. The cost for idle equipment is $500 per day. What quantity of spares should be ordered? Page 553 a. Use the ratio method. b. Use the tabular method (see Table 12.3).
Q: i need the answer quickly
A: Every Primal has dual and every dual has a primal. The primal of maximization become minimization of…
Q: Consider the following returns for two investments, A and B, over the past four years: Investment 1:…
A: A standard deviation (aka σ) is indeed a measure of data dispersion in proportion to the mean. They…
Q: 1. A state has three power plants with generating capacities of 30, 40 and 25 million KWH that…
A: Note: - As we can answer only up to three subparts we will answer the first three subparts(a, b, and…
Q: What is Business Analytics and define the role of Business.
A: Note - Hi! Thank you for the question As per the honour code, We’ll answer the first question since…
Q: 25. Used for computing production capacity, production quotas, wage incentives, costing, etc.. O…
A: Companies need to determine a standard based on which they can set benchmark time, wages for their…
Q: What is the relationship between supply chain and logistics management?
A: Definitions: Supply chain management: - The process from sourcing raw materials to producing the…
Q: What is the process of production from raw materials to customers of a vinyl record?
A: A production process involves a method of delivering goods and services to clients through the use…
Q: What are the primary factors involved in determining compensation for a firm’s CEO? What reasons…
A: Calculating the "correct" compensation can be difficult. Not only is financing a problematic issue,…
Q: Flora's Fabulous Fontains top product is its Model A. Calculate the minimum replenishment time to…
A: First we need to make the network diagram of the activities:
Q: nswer the following items: 2. Recommend the appropriate type/s of warehouse/s that will help H&M…
A: There are many production companies in the industry. They produce a variety and number of products…
Q: How are B2B, B2C, C2C, and e-government important in health care?
A: Healthcare services is a business organization that provides inpatient or outpatient service to any…
Q: • Jobs on the production line needs to be scheduled in which we can reach the minimum lateness rate.…
A: Scheduling can be done by various methods namely: SPT: shortest processing time EDD: earliest due…
Q: Consider an Acceptance Sampling plan in which (20+5) items are randomly inspected in a lot of 200.…
A: The double sampling plan n1=200 c1=5 n2=300 c2=7 for the lots , N=2000 LTPD=5% AQL=2%
Q: This section explains project scheduling strategies such as the WBS, Activity Definition, and…
A: Scheduling is the process of arranging the production activities in order to complete the…
Q: If the unit selling price is P16, the unit variable cost is P12, and fixed costs are P160,000, what…
A: The question is related to Cost Volume Profit Analysis.Breakeven sales is that level of sales at…
Q: 28. Which among the following are not considered to be principles of motion economy. O Equipment…
A: The principles of motion economy is a structure of rules and recommendations which are set to boost…
Q: What role does ERP play in ecommerce and supply chain management, for example?
A: Enterprise resource planning is an integrated business software suite that encompasses all the…
Q: three finishers, each of whom works at most 30 hours per week. Each leather model. brings a profit…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: Identify and briefly describe six system approach factors.
A: Systems approach factors are the things you do in your business that make you more efficient,…
Q: Companies such as Walmart and IBM are enforcing environmental performance in their supply base.…
A: Everyone nowadays is interested about strengthening the environment's sustainability so that we may…
Q: Why do organizations choose rigid processes over flexible ones?
A: Each business has many processes that they have to manage in their day-to-day activities. The type…
Q: What is a flowchart of the process?
A: Process flowcharts are easy to formulate. We can either draw it by hand or leverage…
Q: Explain the notion of task deadline planning and provide a short description of the information…
A: Deadline Planning: Deadline planning is defined as the project manager or management…
Q: 24) Under what conditions would the top-down approach to estimating project times and costs be the…
A: Project estimation techniques or approaches help the project leaders appropriately or accurately…
Q: Many service organizations in different sectors strive for good quality. However, very few are able…
A: Quality management can be stated as the act of overseeing or supervising all the tasks that must be…
Q: Which statement is correct? O a. There could be more than one critical path in a network of…
A: Even if each task is important, just a few are critical. The critical route is a set of…
Q: Jimmy's Appliance Company manufactures washers and dryers. Each washer re 2 hours of assembly time…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: If an activity has its optimistic, most likely and pessimistic times as 2, 4 and 9 respectively,…
A: Here, for an activity, we have the optimistic time, most likely time and pessimistic time, using all…
Q: For Smithson Cutting, the break-even point in units = units (enter your response as a whole…
A: Given data Fixed costs = $450.00 per units Variable costs = $0.50 per units Selling price = $0.60…
Q: immediate Latest Carlest Latest Activity Predecessor Optimistic Probable Pessimistic Activities…
A: A project schedule network diagram shows the sequence of the task that is performed to complete a…
Q: Accurate or false: Is it accurate that a single central distribution centre is responsible for…
A: Answer: False
Q: Which of the following communication media tends to be the best for transmitting emotions? OA.…
A: Communication media means the medium through which information is transformed from one person to…
Q: hing turned your attention and might change you to be a better employee or leader at least 500 words
A: Firstly I accept that information is the way to change, and the most effective way to influence…
Q: a) what is the bottleneck time of the system? b) what is the bottleneck station of this work cell?…
A: Production is the process in which inputs are combined to have the required output. It includes a…
Q: Warehousing is an important contributor to both productivity management and quality in a…
A: Given: Stock keeping unit(SKU) Number of pallets SKU 010 4 SKU 020 6 SKU 030 14 SKU 040…
Q: ou are going to put up a business how can you apply the SWOT analysis in analyzing the internal and…
A: A SWOT (strengths, weaknesses, opportunities and threats) examination takes a gander at inward and…
Q: .7 .6 .5 .4 .3 .2 .1 0 -1- 012 3 Process A Process B Process C 4 5 6 7 8 9 10
A: Statistical process control is described as the means and ways through which statistical approaches…
Q: Write the Liner programming model used for scheduling the following project. 2 3 5 3 1 4 4 6 5 2 3
A: A network is a graphical representation of a project, depicting the flow as well as the sequence of…
Q: How does traditional analytics make use of location-based data? How can geocoded locations assist…
A: Location-based collecting and analyzing data from numerous sources, such as Wi-Fi and GPS, provides…
Q: Computer maker Dell realized the problems with keeping large inventories, especially because of the…
A: The question is related to the Inventory Management system. Inventory management is a the process…
Q: Why is it essential to collect data on a consistent basis?
A: Data should be collected consistently, here, we would take the data from different sites or…
Q: Q2: For the following LP model, find values of the first iteration tableau variables using simplex…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: The table below contains data for the installation of new equipment in a manufacturing process at…
A: a. answer = 11 weeks
Q: At Jill's Custom Cakes, Jill realized after the shop opened that there are enough ovens to bake 12…
A: Layout planning is a part process of operation management. Identifying the required capacity and…
Q: Which option should the firm choose if it thinks it can sell 1400 boards at a price of $50 apiece?
A: For the given problem we need to calculate the expected profit for each alternative. Alternative:-…
Q: Discuss the importance of supplier selection given the current business environment; Explain each…
A: Supplier selection is the process in which the companies determine which supplier to partner with to…
Q: Find the optimum duration and cost for the projects of a 11 activities, the indirect cost = 150 $…
A: Project crashing is a process which helps to reduce the total duration of a project using additional…
Q: The demand for a commodity is 40,000 units a year, at a steady rate. It costs $20 to place an order,…
A: The best order quantity for a corporation to purchase to reduce inventory costs such as holding…
Q: QUESTION ONE Product X is made of two units of Y and three units of Z. Y is made of one unit of A…
A: The Bills of material is the visual representation of the material required for a product.
Q: Monthly Demand 50 abi 120 280 guarantee supplies from de to sign a contract wit rom the roaster to…
A: Based on the given information we have to minimize the total monthly cost of coffee supply from the…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
- At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 = average; 4 = bad. The weekly revenue earned by a machine in state 1, 2, 3, or 4 is 100, 90, 50, or 10, respectively. After observing the condition of the machine at the beginning of the week, the company has the option, for a cost of 200, of instantaneously replacing the machine with an excellent machine. The quality of the machine deteriorates over time, as shown in the file P10 41.xlsx. Four maintenance policies are under consideration: Policy 1: Never replace a machine. Policy 2: Immediately replace a bad machine. Policy 3: Immediately replace a bad or average machine. Policy 4: Immediately replace a bad, average, or good machine. Simulate each of these policies for 50 weeks (using at least 250 iterations each) to determine the policy that maximizes expected weekly profit. Assume that the machine at the beginning of week 1 is excellent.28. An expensive piece of equipment is used in the masking operation for semi- conductor manufacture. A capacitor in the equipment fails randomly. The capacitor costs $7.50, but if it burns out while the machine is in use, the production process must be halted. Here the replacement cost is estimated to be $150. Based on past experience, the lifetime distribution of the capacitor is estimated to be Probability of Failure Number of Months of Service 1 .08 2 .12 3 .16 4 .26 5 .22 .16 How often should the capacitors be replaced in order to minimize the expected monthly cost of planned and unplanned replacement?7. A piece of equipment has a lifetime T (measured in years) that is a continuous ran- dom variable with cumulative distribution function F(t) = 1 – e/10 – (1/10) e¯/10 for all t> 0. a. What is the probability density function of T? b. What is the probability that a piece of equipment survives more than 20 years? c. What is the probability that a piece of equipment survives more than 10 years but fewer than 20 years? d. What is the probability that a piece of equipment survives more than 20 years given that it has survived for 10 years? 8. For the equipment mentioned in Problem 7, a. Derive the failure rate function r(1), and draw a graph of the function. b. Without using the failure rate function, determine the probability that a piece of equipment that has survived 20 years of operation fails in the 21st year. c. Does r(20) accurately estimate your answer to part (b)? Why or why not?
- Explain or define each of these terms:c. Expected value1. What is the most the real estate investor would be willing to pay for additional information? Use Minimum Expected Regret (Minimum EOL) 2. Use the alternative method to verify EVPI36. This risk stems from the unavailability of raw materials, IT, skilled labor, facilities, or other resources that threaten the organization's ability and capacity to continue operations. Group of answer choices None of the choices Product or service failure risk Availability risk Business interruption risk Commerce risk
- 16. The sales of High-Brite Toothpaste are believed to be approximately normal, with a mean of 10,000 tubes per week and standard deviation of 1500. To have a 95% probability that the company will have sufficient stock to cover the weekly demand, at least how many tubes should be produced?A manager is going to purchase new processing equipment and must decide on the number ofspare parts to order with the new equipment. The spares cost $200 each, and any unused spareswill have an expected salvage value of $50 each. The probability of usage can be described by thisdistribution:Number 0 1 2 3Probability .10 .50 .25 .15If a part fails and a spare is not available, two days will be needed to obtain a replacementand install it. The cost for idle equipment is $500 per day. What quantity of spares should beordered?a. Use the ratio method.b. Use the tabular method (see Table 13.3).yz=06 Question 6 A newly purchased equipment item in your organization has a compressor that is known to experience failure (requiring complete replacement) after 6 years. Because of the problems in finding OEM parts, your organization is considering purchasing spare compressors. Your organization uses some numbers (all PER SINGLE COMPRESSOR) to make decisions: It costs $1200+YZ to purchase AND store a single spare compressor for one year. It costs $2000 for downtime costs and repair with that same stored compressor It costs $5000 to purchase a compressor (and downtime costs) and repair if you have to purchase it when it is immediately required. (the higher cost reflecting the convenience and not having to pay for storage) If the time frame of analysis is 4 years, use the Poisson distribution to advise on the lowest cost decision (ie. How many spare compressors will you recommend - zero, one, two...?)
- e) (P1, P2, P3, y1, y2, y3) = (0, 77, 109, 0, 1, 1) with a profit of $ 5260is wrongExplain or define each of these terms:d. Expected value of perfect information42. A large national producer of appliances has traced customer experience with a popular toaster oven. A survey of 5,000 customers who purchased the oven early in 2000 has revealed the following: nd ity Number of Year Breakdowns 2000 188 2001 58 2002 63 2003 72 2004 54 2005 71 a. Using these data, estimate på = the probability that a toaster oven fails in its kth year of operation, for k = 1, . . . , 6. b. What is the likelihood that a toaster oven will last at least six years without failure based on these data? c. The discrete failure rate function has the form r; = Pr/Rp–1, where Rỵ is the prob- ability that a unit survives through period k. Determine the failure rate function for the first five years of operation from the given data. d. Suppose that you purchased a toaster oven at the beginning of 2004 and it is still operating at the end of 2007. If the reliability has not changed appreciably from 2000 to 2007, use the results of part (c) to obtain the probability that it will…