Manufacturing and Sales Decisions with Limited Resources
HO # 7 – Manufacturing of Two Products with Limited Resources
Objective
(1) Objective Criterion: Maximize profit subject to constraining factors.
(2) Find the binding constraint (technological) given the market/demand constraint.
Resource Availability and Requirements
Hours Available:
- DLHRS: 10,000
- MHRS: 14,000
Hours Required to Produce:
- 24,000 units of Product A: 8,000 DLHRS, 12,000 MHRS
- 6,000 units of Product B: 6,000 DLHRS, 2,000 MHRS
Total Hours Required for 24,000 A & 6,000 B:
- DLHRS: 14,000
- MHRS: 14,
Statistics Final Exam Study Guide: Key Concepts & Formulas
Final Exam Study Guide
Histograms
Appropriate for quantitative data
- X-axis is quantitative
- Y-axis is the frequency of the data in the bin
- Bins are a range of values for collecting data, should be the same size
Shape
- Symmetric/Bell-shaped
- Normal
- Skewed
- Uniform
Center
- Mean – useful when data are symmetric
- Median – useful when data are skewed/outliers
- Mode – useful for categorical data
- Unimodal
- Bimodal
Spread
- Range – easy to calculate, not useful
- Interquartile range – easy to calculate, useful when data are skewed/outliers
- Standard
Flexible Budgets & Direct-Cost Variances in Management Control
Chapter 12: Flexible Budgets, Direct-Cost Variances, and Management Control
12-4 What is the key difference between a static budget and a flexible budget?
The key difference is the output level used to set the budget. A static budget is based on the level of output planned at the start of the budget period. A flexible budget is developed using budgeted revenues or cost amounts based on the actual output level in the budget period. The actual level of output is not known until the end of the budget
Read MoreUnderstanding Static vs. Flexible Budgets in Cost Accounting
Chapter 12: Flexible Budgets, Direct-Cost Variances, & Management Control
12-4 What is the key difference between a static budget and a flexible budget?
The key difference is the output level used to set the budget. A static budget is based on the level of output planned at the start of the budget period. A flexible budget is developed using budgeted revenues or cost amounts based on the actual output level in the budget period. The actual level of output is not known until the end of the budget
Read MoreEffective Corrective Feedback Strategies for ESL Learners
Corrective Feedback (CF) Techniques for ESL Learners
1. Direct Corrective Feedback
The teacher provides the student with the correct form by crossing out an unnecessary word, phrase, or morpheme, inserting a missing word or morpheme, and writing the correct form above or near the erroneous form.
Advantages:
- Provides learners with explicit guidance on error correction.
- More effective than indirect CF for low-proficiency learners.
Disadvantages:
- Requires minimal processing from the learner, potentially hindering
Statistics and Data Analysis: A Comprehensive Guide with Solved Examples
1) A manufacturer claims that only 5% of the products it manufactures have some sort of defect. The
preceding sentence describes a (a):
A) Variable B) Deleted C) Parameter
D) Statistical
2) In a random sample of 500 students found that 45% of them buy their books
text. The above statement describes a (a):
A) Statistical
B) Benchmark C) Variable D) Deleted
3) The distance traveled by a car before you stop once the brakes are applied is an example
of a variable:
A) Quantitative continuous
B)