Bob Dresser operates a major appliance warranty service centre.His operation has two check stations that are required at the end of every repair task performed by his appliance repair staff.These are the Functionality Review (FR)and the Overall Scan (OS).The FR must be performed successfully before the OS is begun.On Friday morning,six repair jobs are completed,awaiting these two inspection activities.Processing times are given in minutes.
a.What is the optimal sequence of jobs for the objective of minimizing the total flow time?
b.Show your work,and document the sequence.
c.Chart the solution to this problem.
d.What jobs are being processed at time period 90?
e.What is the total flow time of this problem?
Definitions:
Cost of Equity
The return a company theoretically pays to its equity investors to compensate them for the risk they undertake by investing in the company's stock.
Required Rate of Return
The minimum annual percentage earned by an investment that will entice individuals or companies to put money into a particular project or investment.
Negative NPV
A situation where the present value of future cash flows of an investment is less than the initial investment cost, indicating a potential loss.
Project Risk
The potential for loss or failure associated with an investment or business initiative.
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