Consider a production line with three single-machine stations in series. Each has processing times with mean 2 hours and standard deviation of 2 hours. Required:
a. Suppose we run this line as a push system and release jobs into it at a rate of 0.40 per hour with arrival variability given by Ca=1.What is the average WIP in the line?
b. Compute the throughput of this line if it is run as a CONWIP line with a WIP level equal to your answer in (a). Is the throughput higher or lower than 0.4? Explain this result.
c. Suppose the marginal profit is $100 per piece and the cost of WIP is $0.50 per piece per hour. Find the profits for the above push and pull systems.

Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of money circulating in the economy. the economist proposes the following relationship: p=a x m - p=price level - m=money supply - a=a composite of other factors, including real gdp, that change very slowly over time. how might an economist gather empirical data to test the proposed relationship between money and the price level? an economist would persuade the federal reserve to change the money supply to various levels, and observe the resulting changes in the price level. unlike researchers in the hard sciences, economists cannot study complex relationships using data. economists do not usually develop theoretical models of the economy but only analyze summary statistics about the current state of the economy. an economist would look for data on past changes in the money supply, and note the resulting changes in the price level

Why has the free enterprise system been modified to include some government intervention?

The sec has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the sec staff believes this situation causes cpa firms to