Paragraph 1: You as a person In approximately 100-200 words,…
Paragraph 1: You as a person In approximately 100-200 words, tell me about you as a person. Here are some possible questions to think and/or write about: Where do you live? Are you from there or somewhere else? What do you like to do? What are some of your interests? What are you good at? Do you have a job? If so, where? Do you like it? What do you like/dislike about it? Do you have a family? Pet(s)? Tell me some things interesting about yourself! What are your career goals? Where do you see yourself in five years? Later in the future?
Read DetailsA new airline plans to fly several daily flights from Madiso…
A new airline plans to fly several daily flights from Madison to Appleton. Based on historical data, the flight on Wednesday evening before Thanksgiving is always sold out. However, there are usually no-shows so the airline wants to increase revenue by overbooking. They estimate that the no-shows are normally distributed with a mean of 8 and a standard deviation of 2.83. The airline feels that if they “get caught” overbooking, then the cost will be about five times more than the ticket price. Since Appleton is a family-oriented town, the airline management is dreading bad publicity around Thanksgiving, so it decides that it does not want to bump passengers more than 5% of the time. What is the maximum number of seats the airline should overbook?
Read DetailsRichard’s Convenience Store orders two-liter bottles of root…
Richard’s Convenience Store orders two-liter bottles of root beer on a weekly basis. Weekly demand for root beer is 50 units with a standard deviation of 5 units. The holding cost is $0.50 per bottle per week and a 0.99 in-stock probability is desired. What will be the effect on the average on-hand inventory of root beer if lead time decreases from 3 weeks to 2 weeks?
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