Professor Nutty holds office hours every day to answer stude…
Professor Nutty holds office hours every day to answer students’ questions. Students arrive at an average rate of 4 per hour. Professor Nutty can process students at an average rate of 6 per hour. Assume that all times are exponentially distributed. What is the average number of students waiting outside Professor Nutty’s office?
Read DetailsAssume now that the WP decided to focus only on the producti…
Assume now that the WP decided to focus only on the production of papers. Another firm (let’s call that firm “Ralph”) will be responsible for selling the papers to the customers. If the production cost of each paper is $0.2, the wholesale price is $0.7 the retail price is $1 and the demand is normally distributed with a mean of 550 and a standard deviation sigma (σ)=10 then, What is the optimal quantity of papers that Ralph should stock?
Read DetailsRalph and WP have decided to use a buyback coordinating mech…
Ralph and WP have decided to use a buyback coordinating mechanism. If the production cost of each paper is $0.2, the wholesale price is $0.7 the retail price is $1 and the demand is normally distributed with a mean of 550 and a standard deviation sigma (σ)=10 then, Which buyback price, b, would maximize the supply chain profit?
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