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Discussion Topic – Normal Distribution in Operations Management

Operations and production managers often use the normal distribution as a probability model to forecast demand in order to determine inventory levels; manage the supply chain; control production and service processes ; and perform quality assurance checks on products and services. The information gained from such statistical analyses help managers optimize resource allocation decisions and reduce process times, which in turn often improves contribution margins and customer satisfaction.

Based on your understanding of the characteristics of the normal distribution, examine the charts below,

The charts are production processes. They are nearly the same, two bell curves, but one is higher at the peak than the other same mean and are virtually the same.

1. Does either of the processes below fit a normal distribution? Why or why not?

2. Based on the graphs below, the production processes for A & B are expected to produce values as high and low as ___________ units?

3. Which processes shows more variation? What does this mean?

4. If the company specified tolerance limits of +/- 3 standard deviations, which of the above processes more consistently meets specifics? Explain why.

5. If the company set tolerance limits of +/- 6 standard deviations (six sigma), are they loosening or tightening their quality standards?

6. Looking at the processes again, under Six Sigma, which is/are acceptable?

7.Using higher discount rates will

A)Not affect the present value of the future cash flow.

B)Increase the present value of any future cash flow.

C)Decrease the present value of any future cash flow.

D)None of the above.

In order to fund her retirement, Glenda requires a portfolio with an expected return of 12 percent per year over the next 30 years. She has decided to invest in Stocks 1, 2, and 3, with 25 percent in Stock 1, 50 percent in Stock 2, and 25 percent in Stock 3. If Stocks 1 and 2 have expected returns of 9 percent and 10 percent per year, respectively, then what is the minimum expected annual return for Stock 3 that will enable Glenda to achieve her investment requirement?

Expected returns: You have chosen biology as your college major because you would like to be a medical doctor. However, you find that the probability of being accepted into medical school is about 10 percent. If you are accepted into medical school, then your starting salary when you graduate will be $300,000 per year. However, if you are not accepted, then you would choose to work in a zoo, where you will earn $40,000 per year. Without considering the additional educational years or the time value of money, what is your expected starting salary as well as the standard deviation of that starting salary?

Here is a sample from my assignment, can anyone help so I can understand how to do this?

Future value: Chuck Tomkovick is planning to invest $25,000 today in a mutual fund that will provide a return of 8 percent each year. What will be the value of the investment in 10 years?

Patrick Seeley has $2,400 that he is looking to invest. His brother approached him with an investment opportunity that could double his money in four years. What interest rate would the investment have to yield in order for Patrick’s brother to deliver on his promise?

Growing perpetuity: You are evaluating a growing perpetuity product from a large financial services firm. The product promises an initial payment of $20,000 at the end of this year and subsequent payments that will thereafter grow at a rate of 3.4 percent annually. If you use a 9 percent discount rate for investment products, what is the present value of this growing perpetuity?

Computing annuity payment: Gary Whitmore is a high school sophomore. He currently has $7,500 in a money market account paying 5.65 percent annually. He plans to use this and his savings over the next four years to buy a car at the end of his sophomore year in college. He estimates that the car will cost him $12,000 in four years. How much should he invest in the money market account every year for the next four years if he wants to achieve his target?

Homework help, please, very desperate, I don't understand this at allllll!?

Liquidity ratios: Flying Penguins Corp. has total current assets of $11,845,175, current liabilities of $5,311,020, and a quick ratio of 0.89. What is its level of inventory?

Leverage ratios, I don't get them, please help me!?

Leverage ratios: Breckenridge Ski Company has total assets of $422,235,811 and a debt ratio of 29.5 percent. Calculate the company’s debt-to-equity ratio and the equity multiplier.

Profit margin and debt ratio, can someone explain this?

DuPont equation: The Rangoon Timber Company has the following relationships:

Sales/Total assets = 2.23; ROA = 9.69%; ROE = 16.4%

What are Rangoon’s profit margin and debt ratio?

Liquidity ratios: Flying Penguins Corp. has total current assets of $11,845,175, current liabilities of $5,311,020, and a quick ratio of 0.89. What is its level of inventory?

DuPont equation: The Rangoon Timber Company has the following relationships:

Sales/Total assets = 2.23; ROA = 9.69%; ROE = 16.4%

What are Rangoon’s profit margin and debt ratio?

The Centennial Chemical Corp. announced that for the period ending March 31, 2009, it had earned income after taxes worth $2,768,028.25 on revenues of $13,144,680. The company’s costs (excluding depreciation and amortization) amounted to 61 percent of sales, and it had interest expenses of $392,168.                         What is the firm’s depreciation and amortization expense if its tax rate was 34 percent?

Income statement: Sosa Corporation recently reported an EBITDA of $31.3 million and $9.7 million of net income. The company has $6.8 million interest expense, and the corporate tax rate is 35 percent. What was the company’s depreciation and amortization expense?

Working capital: Laurel Electronics reported the following information at its annual meetings. The company had cash and marketable securities worth $1,235,455, accounts payables worth $4,159,357, inventory of $7,121,599, accounts receivables of $3,488,121, notes payable worth $1,151,663, and other current assets of $121,455. What is the company’s net working capital?

Brian Williams was wearing a yellow and blue tie during the election coverage. I found a pic of it on this link. http://www.huffingtonpost.com/news/brian-williams

Can anyone help me find it? figure out what kind it is? please!

I guess I want to know how often he and I should be seeing each other. I was in a horrible relationship before and have no sense of what's healthy as far as relationships go. I tend to be needy and am trying to break out of that habit. Can anyone give me insight?

How much did you take and were you dieting too?

He really likes soccer but is a spoiled brat and has almost everything you could imagine. I'm not into giving money or giftcards either. I don't have a lot of $$ to spend but 30-40 bucks would suffice. Can anyone give me any suggestions?

I'm dating a cancer guy for 8 months now and he's almost aloof... we spend a lot of time together and he's consistent but he's just not "taking it to the next level" and he's cautious about relationships.. any suggestions? advice? where is my future going with him?