The operations manager of a body and paint shop has five cars to schedule for repair. He would like to minimize the makespan to complete all work on these cars. Each car requires body work prior to painting. The estimates of the times required to do the body and paint work on each are as follows:
What is the idle time at the paint work center for the optimal schedule?
Definitions:
Loanable Funds
The loanable funds market is a conceptual framework for understanding the market where borrowers and lenders interact, determining the supply and demand for loans and consequently the interest rate.
National Saving
The total amount of savings in a country, calculated as the sum of private savings by households and businesses, plus public savings by the government, minus any foreign borrowing.
Open-Economy Macroeconomic
A branch of macroeconomics that studies economies in which international trade and financial transactions play a significant role.
Loanable Funds
The funds available for borrowing in the financial markets, involving the lending and borrowing between savers and borrowers, which determines the equilibrium interest rate.
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