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Use this scenario for the following question(s) .
The process design team at a manufacturer has broken an assembly process into eight basic steps, each with a required time, and predecessor as shown in the table. There are 7.5 productive hours available in a day and the manufacturer wishes to produce 400 units. Balance the line by assigning tasks to workstations to fill up as much takt time as possible. Break ties by assigning the longest task first.
-Refer to the scenario above. The process engineer calculates the takt time and examines the task times indicated in the table. He decides to use the minimum cycle time instead and have the workers leave early each day once they have built 400 units. How much earlier would the workers leave?
Inflation Rate
The growth rate of the overall cost level for goods and services, undermining the efficacy of monetary resources.
Spot Rate
The current price in the marketplace at which a given asset—such as a currency, commodity, or security—can be bought or sold for immediate delivery.
Forward Rate
The predetermined price for a transaction that will occur at a specific future date, used in the context of currency and interest rate markets.
Interest Rate Parity
A theory that suggests the difference in interest rates between two countries is equal to the differential between the forward exchange rate and the spot exchange rate.
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