a) An engineer must decide how many machines of a certain type to purchase. Each machine can process 200 customers per day. One machine will result in a fixed cost of RM2,500 per day, while two machines will results in a fixed cost of RM4,300 per day. Variable costs will be RM15 per customers, and revenue will be RM55 per customer. Determine the break-even point for each range. If estimated demand is 60 - 110 customers per day, how many machines should be purchased? b) Given this payoff as shown in Table Q2: Alternatives A B C Table Q2 State of nature (Payoff in RM thousand) #1 120 60 10 #2 30 40 110 Determine the range of P(1) for which each alternative would be best, treating the payoffs as profits and costs.

a) An engineer must decide how many machines of a certain type to purchase. Each machine can process 200 customers per day. One machine will result in a fixed cost of RM2,500 per day, while two machines will results in a fixed cost of RM4,300 per day. Variable costs will be RM15 per customers, and revenue will be RM55 per customer. Determine the break-even point for each range. If estimated demand is 60 - 110 customers per day, how many machines should be purchased? b) Given this payoff as shown in Table Q2: Alternatives A B C Table Q2 State of nature (Payoff in RM thousand) #1 120 60 10 #2 30 40 110 Determine the range of P(1) for which each alternative would be best, treating the payoffs as profits and costs.

Elements Of Electromagnetics

7th Edition

ISBN:9780190698614

Author:Sadiku, Matthew N. O.

Publisher:Sadiku, Matthew N. O.

ChapterMA: Math Assessment

Section: Chapter Questions

Problem 1.1MA

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Automation in manufacturing processes

The term automation refers to the technique through which the creation of an apparatus takes place using an automatic process or a system. Let us try to understand this with an example.

Question

q(i)

a) An engineer must decide how many machines of a certain type to purchase. Each
machine can process 200 customers per day. One machine will result in a fixed cost of
RM2,500 per day, while two machines will results in a fixed cost of RM4,300 per day.
Variable costs will be RM15 per customers, and revenue will be RM55 per customer.
Determine the break-even point for each range. If estimated demand is 60 – 110
customers per day, how many machines should be purchased?
b) Given this payoff as shown in Table Q2:
Table Q2
State of nature (Payoff
in RM thousand)
#1
#2
A
120
30
Alternatives
60
40
10
110
Determine the range of P(1) for which each alternative would be best, treating the payoffs
as profits and costs.

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