Expert Answers

2 26 88 A hospital stocks two surgical supplies on a continuous review basis. Both are replenished on average every three weeks. In addition, both have the same holding costs. When item A is backordered, a different item can be substituted at a cost of about $5. But when item is backordered the surgery has to be delayed, costing the hospital thousands of dollars. What is true about the optimal CSL for the two products? o impossible to tell O optimal CSL is the same for A and B optimal CSL is higher for B O optimal CSL is higher for A 27 8 Alandlord reduces prices when many apartments are vacant and raises prices when few apartments are vacant. This is an example of differential pricing dynamic pricing capacity control o overbooking

2:26 ...11 90 casedevided2.pdf Sylvia was looking forward to the interviews. She believed that each of the candidates would be a good fit with the environment at Lerners. She sat down to organize and develop the questions that she would ask Susan Cooper, Grace Li and John Mason (their résumés are attached as Exhibits 6, 7 and 8). QUESTIONS Develop interview questions for the three candidates. In doing so: 1. Determine the questions you will ask of all candidates, and how you will personalize each question 2. Consider how you will probe for more information, and how you will avoid evoking a standard or rehearsed response from the candidates.

2. (50 points) Just like all other cars, a car has four tires and a spare one in its trunk. The lifetimes of the four tires at the beginning of a long trip are identically (meaning has the same distribution) and independently distributed exponential random variables with a mean of 5.000 kilometers. The spare tire, on the other hand, has an exponential lifetime with a mean of 400 kilometers. a) (10 points) What is the rate that you change the left front tire in 10,000 kilometers? What is the rate that you change one of the tires in 15,000 kilometers? b) (10 points) What is the probability that the car travels without changing a tire for more than 8,000 kilometers? Hint: Let T: kilometers traveled without changing a tire and T., T. TT, and T. are lifetimes of four tires and the spare tire, respectively. Spring 2020 c) (10 points) Given that the car already traveled 7,000 kilometers, what is the probability that the car travels without changing a tire for more than 12,000 kilometers? Note: Consider the hint in part b). d) (10 points) Given that one of the tires failed after traveling 3,000 kilometers, find the probability that the car travels another 7,000 kilometers without going to a repair shop. Let Ts: kilometers traveled until the first failure, Tx: kilometers traveled until the second failure Hint: What is the distribution of T:? What is the distribution of T:? el (10 points) Find the average trip length the car travels with the original four tires. Find the average trip length the car travels with the spare tire. Explain and compare your results.

2 33 64 At an auto repair shop, the amount of transmission fluid used averages 12 liters per day, with a standard deviation of 4 liters per day. If the lead time to replenish this transmission fluid is 5 days, what reorder point should the shop use to ensure that they have 50 liters of safety stock? 34 63 A grocery store replenishes orange juice using a continuous review policy. Specifically, they order 20 pallets of orange juice each time their inventory drops below 384 bottles. Each pallet has 200 bottles. What is the store's average cycle Inventory in bottles?

2-6. In your opinion, which area of social responsibility is most important? Why? Are there areas other than those noted in the chapter that you consider important?

2. An accounting firm is going to buy a new computerized system to support its accounting reporting processes. Three potential systems are being evaluated. The results of the cost of each system for the processes are shown in the following table. (3 marks) Dollars required to process each accounting report S60 System A System B System C Purchasing cost $200,000 $300,000 $400,000 S25 $10 a) The accounting firm has currently made the decision of buying System A because the purchasing cost is the lowest. But, you notice that when the volume of accounting reports jumps to certain level, the overall cost of using System A will not be the lowest. What is that volume? b) In fact, the firm is going to have an aggressive expansion. Please advise the firm at what volume that System C will consume the minimum cost (i.e. the purchasing cost and the cost to process the reports).

2. Abaso Company manufactures products A, B, and C. Each unit of product (A, B, C) requires (1, 2, 1) hour of engineering service, (10, 4, 5) hours of direct labor, and (3, 2, 1) pounds of material available. The production cost is a non-linear function of the following Product A Product B Quantity Product C Quantity Unit cost 0-40 Quantity $10 0-50 6 0-100 41-100 9 51-100 4 101-150 8 Over 100 3 Over 150 Note that if 60 units of A are made, the first 40 units cost $10 per unit and the remaining 20 units cost $9 per unit. Formulate a mixed integer program to determine the minimum Unit cost Unit cost 5 4 over 100 7 cost production schedule, assume that certain demand , d., and ds) for product A, B, and C must be met.

2.- Analyse what the principle(s) of Contract and/or Tort Law is and/or are + adopted and answer the queries in the following cases - a- Mr Tan offered to purchase shares in the claimant company at the + price of HK$45.00 per share. Two months later the claimant accepted his offer by which time the shares at the price of HK$42.00. However, Mr Tan refused to go through with the sale. Whether Mr Tan should + pay the difference of the price for his offer or it is claimable by the claimant? Explain? (5 marks) be Dr Atkin looked at the menu and ordered a bottle of coffee produced + by a famous coffee manufacturer at Star Café, a pretty young lady+ brought the bottle of coffee with clear glass and some ice. Dr Atkin paid for that order and focused on the lady how nicely to serve the coffee into the glass who found so pleasure without any problem. Unfortunately, he found a dead ant in the glass of coffee indeed. What do you observe under the above circumstance? (9 marks) Duncan joined a construction company and seconded to work as a + salesman for the construction plant and required to work for 50 hours + per week. He found that he signed to work for 44 hours per week under an employment contract without seal at the time before he left the company. Whether he is still able to claim for the additional working hours or not. (9 marks) Mr Fox made an advertisement to sell his flat in HK$9 million and receive a phone call from the claimant who offered to buy his flat on Tuesday and subject to the agreement to be made by the weekend. + Mr Fox confirmed to sell his flat to Miss Pink in HK$9.5 million and + told the claimant this. Therefore, the claimant took an appeal of the + action to the tribunal and asked for the share of the profit HK$250,000.00. Whether the claimant appeal be a success or not? Explain? (7 marks)