When do things move faster? Day or night?
2 answers:
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Answer:
He would receive $15 under incentive plan.
Explanation:
The given values are:
Average observed time
= 280 seconds per unit
Performance rating
= 105%
i.e.,
= 1.05
Allowance factor
= 13%
i.e.,
= 0.13
So,
⇒
On putting the estimated values, we get
The available time will be:
=
=
Now,
The Standard production per day will be:
=
=
=
Since he generates 100 units, he consumes about 15(00-85,22) units per day well above normal production.
So that he's going to get:
=
= ($)
Answer:
≈ 9644 quantity of card
Explanation:
given data:
n = 4 regions/areas
mean demand = 2300
standard deviation = 200
cost of card (c) = $0.5
selling price (p) = $3.75
salvage value of card ( v ) = $ 0
The optimal production quantity for the card can be calculated using this formula below
= <em>u</em> + z (0.8667 ) * б
= 9200 + 1.110926 * 400
≈ 9644 quantity of card
First we have to find <em>u</em>
u = n * mean demand
= 4 * 2300 = 9200
next we find the value of Z
Z = ( )
= ( 3.75 - 0.5 ) / 3.75 = 0.8667
Z( 0.8667 ) = 1.110926 ( using excel formula : NORMSINV (0.8667 )
next we find б
б = 200 = 400