Problem 1: Given the following information:
Effective capacity = 50 units per day
Design capacity = 90 units per day
Actual output = 35 units per day
Utilization =
Problem 2: The owner of Firewood To Go is considering buying a hydraulic wood splitter which sells for $70000. He figures it will cost an additional $60 per cord to purchase and split wood with this machine, while he can sell each cord of split wood for $180. How many cords of wood would he have to split with this machine to break even?
Problem 3:
The owner of Firewood To Go is considering buying a hydraulic wood splitter which sells for $50000. He figures it will cost an additional $100 per cord to purchase and split wood with this machine, while he can sell each cord of split wood for $120.
Demand for cords of wood can be modeled by using a Normal Distribution with a Mean of 2400 units and a Standard Deviation of 100 units. What is the Probability that you will make money using this machine?