A retail store sold in the month of April 5,000 products that produced $45,000 in sales. In the month ofMay the company sold 6,000 products. The store workforce consists of four full-time workers who work 40-hour week.In April the store also had seven part-time workers at 10 hours per week, and in May the store had nine part-timers at 15hours per week (assume four weeks in each month). Using sales dollars as the measure of output (assume the price of theproduct was the same for both months), what is the percentage change in labor productivity from April to May?Answer:2.

Productivity is the process of manufacturing the products and services most effectively and…

Answered: 2. A retail store sold in the month of…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter10: Introduction To Simulation Modeling

Section: Chapter Questions

Problem 41P: At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 =...

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At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 = average; 4 = bad. The weekly revenue earned by a machine in state 1, 2, 3, or 4 is 100, 90, 50, or 10, respectively. After observing the condition of the machine at the beginning of the week, the company has the option, for a cost of 200, of instantaneously replacing the machine with an excellent machine. The quality of the machine deteriorates over time, as shown in the file P10 41.xlsx. Four maintenance policies are under consideration: Policy 1: Never replace a machine. Policy 2: Immediately replace a bad machine. Policy 3: Immediately replace a bad or average machine. Policy 4: Immediately replace a bad, average, or good machine. Simulate each of these policies for 50 weeks (using at least 250 iterations each) to determine the policy that maximizes expected weekly profit. Assume that the machine at the beginning of week 1 is excellent.
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