A production process produces 2% defective parts. A sample of five parts from the production process is selected. What is the probability that the sample contains exactly two defective parts?
a. 0.0004
b. 0.0038
c. 0.10
d. 0.02
b
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To practice in today’s global economy, managers need a framework to understand:
a. Gender preferences b. Legislative and business-related social policies c. Economic theory d. International Bill of Human Rights
Identify and describe the three major types of innovation.
What will be an ideal response?
Write the objective function for this problem
Due to increased sales, a company is considering building three new distribution centers (DCs) to serve four regional sales areas. The annual cost to operate DC 1 is $500 (in thousands of dollars). The cost to operate DC 2 is $600 (in thousands of dollars.). The cost to operate DC 3 is $525 (in thousands of dollars). Assume that the variable cost of operating at each location is the same, and therefore not a consideration in making the location decision. The table below shows the cost ($ per item) for shipping from each DC to each region. Region DC A B C D 1 1 3 3 2 2 2 4 1 3 3 3 2 2 3 The demand for region A is 70,000 units; for region B, 100,000 units; for region C, 50,000 units; and for region D, 80,000 units. Assume that the minimum capacity for the distribution center will be 500,000 units.
The design of service processes is challenging because it involves a trade-off between ______.
a. customer expectations and product price b. service provider expectations for profits and costs c. customers’ expectations and service providers’ desire for efficiency d. product price and delivery time