OVERLOAD CO makes gear module which includes two components: Component Lambda and Component Kappa. These components are produced in a Production resource and then assembled together in Assembly. A typical production cycle will include 800 units of Component Lambda and 300 units of Component Kappa and would involve two setups to switch between the two types of components. Each setup takes 25 minutes. Suppose that Production of these components has 1 worker and is the bottleneck resource in the process. Each Component Lambda takes 60 seconds to make and each Component Kappa takes 60 seconds to make. Assume that there is sufficient demand and the process is capacity-constrained. Further assume that the Production resources is the bottleneck resource. You are further told that: Number of units of Component Lambda needed to make each gear module = 8 Number of units of Component Kappa needed to make each gear module = 3 If a typical prodcution cycle will include 800 units of Lambda and 300 units of Kappa, what would be the batch size of Component Lambda?
Addition Rule of Probability
It simply refers to the likelihood of an event taking place whenever the occurrence of an event is uncertain. The probability of a single event can be calculated by dividing the number of successful trials of that event by the total number of trials.
Expected Value
When a large number of trials are performed for any random variable ‘X’, the predicted result is most likely the mean of all the outcomes for the random variable and it is known as expected value also known as expectation. The expected value, also known as the expectation, is denoted by: E(X).
Probability Distributions
Understanding probability is necessary to know the probability distributions. In statistics, probability is how the uncertainty of an event is measured. This event can be anything. The most common examples include tossing a coin, rolling a die, or choosing a card. Each of these events has multiple possibilities. Every such possibility is measured with the help of probability. To be more precise, the probability is used for calculating the occurrence of events that may or may not happen. Probability does not give sure results. Unless the probability of any event is 1, the different outcomes may or may not happen in real life, regardless of how less or how more their probability is.
Basic Probability
The simple definition of probability it is a chance of the occurrence of an event. It is defined in numerical form and the probability value is between 0 to 1. The probability value 0 indicates that there is no chance of that event occurring and the probability value 1 indicates that the event will occur. Sum of the probability value must be 1. The probability value is never a negative number. If it happens, then recheck the calculation.
OVERLOAD CO makes gear module which includes two components: Component Lambda and Component Kappa.
These components are produced in a Production resource and then assembled together in Assembly. A typical production cycle will include 800 units of Component Lambda and 300 units of Component Kappa and would involve two setups to switch between the two types of components. Each setup takes 25 minutes.
Suppose that Production of these components has 1 worker and is the bottleneck resource in the process. Each Component Lambda takes 60 seconds to make and each Component Kappa takes 60 seconds to make.
Assume that there is sufficient demand and the process is capacity-constrained. Further assume that the Production resources is the bottleneck resource. You are further told that:
Number of units of Component Lambda needed to make each gear module = 8
Number of units of Component Kappa needed to make each gear module = 3
If a typical prodcution cycle will include 800 units of Lambda and 300 units of Kappa, what would be the batch size of Component Lambda?
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