Which one of the following is a variable to be considered when calculating production lot size? a forecasted demand b customer order c the lower of customer orders and forecasted demand d the higher of customer orders and forecasted demand
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Which one of the following is a variable to be considered when calculating
production lot size?
a
b customer order
c the lower of customer orders and forecasted demand
d the higher of customer orders and forecasted demand
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- A company produces a line of golf putters composed of three models. The demandfor model A is 500 per month, for B is 400, and for C is 300. What would be themixed-model sequence if some of each were made each day?I need the excel formulas for the following, please! A concession stand manager at a baseball game must decide whether to have the souvenir vendors sell sun visors or umbrellas. There is a 30% chance of rain, a 15% chance of clouds, and a 55% chance of sunshine, according to weather predictions for the game. Because supplies can only be ordered 3 days before each game, the stand manager is unable to waituntil the day before the game to acquire the materials to be sold. The manager estimates the following profits will result from each decision, given the weather conditions. Given the following table, select the best decision using the following decision criteria.• Maximin• Maximax• Maximum likelihood criterion• Bayes’ decision rule Decision Rain Cloudy Sunny Sun Visors $-500 $-200 $1,500 Umbrellas $2,000 $0 $-900 Prior Probabilities 0.30 0.15 0.55The seasonal yield of olives in a Piraeus, Greece, vineyard is greatly influenced by a process of branch pruning. If olive trees are pruned every two weeks, output is increased. The pruning process, however, requires considerably more labor than permitting the olives to grow on their own and results in a smaller size olive. It also, though, permits olive trees to be spaced closer together. The yield of 1 barrel of olives by pruning requires 5 hours of labor and 1 acre of land. The production of a barrel of olives by the normal process requires only 2 labor hours but takes 2 acres of land. An olive grower has 250 hours of labor available and a total of 150 acres for growing. Because of the olive size difference, a barrel of olives produced on pruned trees sells for $20, whereas a barrel of regular olives has a market price of $30. The grower has determined that because of uncertain demand, no more than 40 barrels of pruned olives should be produced. Use graphical LP to find (a) the…
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- Boston Company use a special part in manufacturing of its finished products. The unit cost thisspecial part is $ 35, and details of its manufacturing cost is as follows. The $35 unit productcost of this part is based on average 25,000 number of parts produced each year.An outside supplier has offered to supply the 25,000 parts at a cost of $30 per part. The specialequipment used to manufacture the above part. This equipment can only be used formanufacturing of this part and if not used it has no resale value.The total amount of general factory overhead, which is allocated based on direct labor-hours,would be unaffected by this decision because it is fixed cost..Suggest the management whether to stop producing internally and buy them from theoutside supplier?Description CAD Direct Materials 10Direct Labor 6Variable overheads…Examine the possible cash-flow issues and operational improvement possibilities of at least two KPIs from the middle of the revenue-cycle dashboard of the chosen organization Charges are captured for services provided. 91%(Color: Yellow)92%(Color: Yellow)85%(Color: Yellow)86%(Color: Yellow)Clinical documentation is completed within 5 days of patient visit/discharge.93%(Color: Green)96%(Color: Green)81%(Color: Yellow)81%(Color: Yellow)Area of the CycleKey Performance Indicator (KPI)Target: 100%January - MarchActualApril - JuneActualJuly - SeptemberActualOctober -DecemberActualMembers of the medical staff are notified within 2 days of any delinquent (greater than 5 days) clinical documentation in patient charts.100%(Color: Green)98%(Color: Green)99%(Color: Green)100%(Color: Green)Coding is completed within 5 days of clinical documentation completion in the medical record.100%(Color: Green)70%(Color: Red)78%(Color: Red)76%(The Northridge Company tends to keep the inventory low. At the same time, it is important to respond to demand quickly, since a customer who wants a product K is very likely to get one from a competitor if Northridge Company doesn’t have one available immediately. Northridge Company’s current policy to produce the product K is to produce 100 per week, which is the average demand. Even this is a problem, as the production manager has pointed out, since the equipment is also used for other products and the lot size of 300 would be much more efficient. He said he is currently set up the production for product K for the next week and states that he has capacity available to produce 300 at a time next week. The following lists the forecasts and actual customer orders for the next 12 weeks. Week 1 2 3 4 5 6 7 8 9 10 11 12 Forecast 90 120 110 80 85 95 100 110 90 90 100 110 Customer Orders 105 97 93 72 98 72 53 21…
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