QuickHelper

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About QuickHelper

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Elementary,High School,College,University,PHD

Expertise:
Accounting,Applied Sciences See all
Accounting,Applied Sciences,Business & Finance,Chemistry,Engineering,Health & Medical Hide all
Teaching Since: May 2017
Last Sign in: 386 Weeks Ago, 5 Days Ago
Questions Answered: 20103
Tutorials Posted: 20155

Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

Experience

  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Accounting Posted 31 Aug 2017 My Price 11.00

Contemporary decision making

Question description

 

A machine shop produces many parts but their biggest seller is the Deluxe Jig.

    

Marketing only accepts orders in multiples of 50. Past demand data is:

      

Order Amount

Number of Orders

            

50

33

            

100

46

            

150

84

            

200

74

            

250

32

            
               

The Deluxe Jig goes through a four step process with the following yields:

    

Cutting

µ =

96.6%

σ =

1.00%

      

Grinding

µ =

93.4%

σ =

2.50%

      

Lathe

µ =

98.9%

σ =

3.00%

      

Polish

µ =

98.4%

σ =

1.00%

      

Note: The yield cannot exceed 100%

            
               

The production lot size is 15% more than the order size

        
               

Design a simulation to determine what percent of the orders satisfy the order amount (10 points)

Provide data analysis to verify that you tested the model validity (5 points)

Answers

QuickHelper
(10)
Status NEW Posted 31 Aug 2017 06:08 PM My Price 11.00

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