At Morgan's Transformer Rebuilding, Five Jobs Are Ready Now for Dispatching

question 11

Essay

At Morgan's Transformer Rebuilding, five jobs are ready now for dispatching to a machine center. The processing times and due dates for the jobs are given below. Use earliest due date to sequence the jobs, and calculate the average completion time, the average job lateness, and the average number of jobs in the machine center.
$$\begin{array} { | c | c | c | } \hline \text { Job } & \text { Work Time (days) } & \text { Due Date (days) } \\\hline \text { A } & 15 & 38 \\\hline \text { B } & 13 & 28 \\\hline \text { C } & 7 & 20 \\\hline \text { D } & 18 & 50 \\\hline \text { E } & 9 & 15 \\\hline\end{array}$$

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Definitions:

Standard Deviations

A measure of the dispersion of a set of data from its mean, often used in finance to quantify the volatility of returns.

Perfectly Negatively Correlated

A relationship between two variables where one variable increases as the other decreases with a correlation coefficient of -1.

Global Minimum Variance Portfolio

A portfolio construction strategy aimed at minimizing the volatility of returns by selecting a combination of investments that as a whole have the lowest possible risk.

Standard Deviation

A statistical measure of the dispersion or variability of a set of values, often used to quantify the risk associated with a particular investment or portfolio.