Demand for cords of wood can be modeled by using a normal, Ask an Expert

Management Studies

Problem 1 -

An operation produces 190 units per hour with a scrap rate of 10 percent. If we could eliminate the scrap completely, what would be the percentage increase in productivity per hour.

Format your answer as a Percent ( .85 would be 85 ... Do not include the Percent Sign % ) Your Answer: _______

Problem 2 -

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 modeled 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?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M9357534

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