Question 1 0 out of 1 points An oversea manufacture, Taoci King (TK), is scheduling its production of 400 porcelain tea sets for its U. retailer,…

I need help with this assignment. Thank you!

An oversea manufacture, Taoci King (TK), is scheduling its production of 400 porcelain tea sets for its U.S. retailer, Porcelain Queen (PQ). According to their contract, this batch of tea sets need to be delivered to PQ’s shipping dock located at Qingdao Port before Nov 1st 00:00am for Thanksgiving / Christmas selling season. In the case of late delivery, PQ will charge TK $1,000 per day as penalty. For example, if TK delivers on Nov 2rd noon, PQ will charge $1,000*1.5=$1,500 as penalty.

Haven’t Found The Relevant Content? Hire a Subject Expert to Help You With
Question 1 0 out of 1 points An oversea manufacture, Taoci King (TK), is scheduling its production of 400 porcelain tea sets for its U. retailer,…
Post Your Own Question And Get A Custom Answer
Hire Writer

TK does not know exactly how long it would take to product this batch of 400 tea sets due to yield uncertainty. Therefore, TK is trying to utilize historical data to estimate its production time. The historical production times for batches of similar tea sets are shown in Table 1 in Q4. Since these are similar tea sets, the average per-unit product time and the yield rate will be similar for this upcoming batch.

PQ will pay TK immediately by cash on Nov 1st 00:00am or on delivery, whichever is later: Even if TK delivers on Oct 30th 00:00am, TK still needs to wait until Nov 1st00:00am to get the payment. If TK delivers on Nov 2nd noon, however, the payment will be made on Nov 2nd noon. TK is relying on bank loan to start its production, which incurs $400 daily interest once the production starts and until paid using payment from PQ. For example, if TK starts production on Oct 30th noon and delivers on Nov 2nd00:00am, TK pays $400/day*2.5days = $1000 interest to the bank.

Please help TK to determine when to start the production. Hint: Apply newsvendor model for this problem. Consider “order quantity” as the time between “starting the production” and Nov 1st 00:00am, and “demand” as the actual production time for this batch.

If order quantity turns out to be larger than demand (i.e., TK finishes its production before Nov 1st 00:00am), how much it could have saved by ordering one unit less (i.e., by starting its production one day later)? This is the overage cost.

  • Attachment 1
  • Attachment 2

Question 10 out of 1 pointsAn oversea manufacture, Taoci King (TK), is scheduling its production of 400 porcelain tea sets for its U.S. retailer, Porcelain Queen (PQ). According to their contract, thisX batch of tea sets need to be delivered to PQ’s shipping dock located at Qingdao Port before Nov 1st 00:00am for Thanksgiving / Christmas selling season. In the case oflate delivery, PQ will charge TK $1,000 per day as penalty. For example, if TK delivers on Nov 20 noon, PQ will charge $1,000*1.5=$1,500 as penalty.TK does not know exactly how long it would take to product this batch of 400 tea sets due to yield uncertainty. Therefore, TK is trying to utilize historical data to estimate itsproduction time. The historical production times for batches of similar tea sets are shown in Table 1 in Q4. Since these are similar tea sets, the average per-unit producttime and the yield rate will be similar for this upcoming batch.PQ will pay TK immediately by cash on Nov 1st 00:00am or on delivery, whichever is later: Even if TK delivers on Oct 30 00:00am, TK still needs to wait until Nov 1St00:00am to get the payment. If TK delivers on Nov 2n0 noon, however, the payment will be made on Nov 2n0 noon. TK is relying on bank loan to start its production, whichincurs $400 daily interest once the production starts and until paid using payment from PQ. For example, if TK starts production on Oct 30th noon and delivers on Nov 2nd00:00am, TK pays $400/day*2.5days = $1000 interest to the bank.Please help TK to determine when to start the production. Hint: Apply newsvendor model for this problem. Consider "order quantity" as the time between "starting theproduction" and Nov 1st 00:00am, and "demand" as the actual production time for this batch.If order quantity turns out to be larger than demand (i.e., TK finishes its production before Nov 1St 00:00am), how much it could have saved by ordering one unit less (i.e.,by starting its production one day later)? This is the overage cost.Question 20 out of 1 pointsxFollowing similar idea as in Q1, how much is the underage cost?Question 30 out of 1 pointsWhat is the critical fractile? Enter a number with two digits after decimal.X

Why Hire a Professional Essay Writer from MyHomeworkGeeks

Quality Urgent Essays

Domyhomeworkk online platform provides the best essay writing service ever received elsewhere, thanks to our professional essay writers. Experience gained in the 10+ years of being in the assignment writing industry is also an added advantage.

Professional and Experienced Academic Writers

A lot is done to maintain us as the best essay writing service provider. Besides owning a degree from a recognized university, a writer must pass the rigorous tests we take them through before they are considered eligible to offer urgent essay help on our website.

Affordable Urgent Assignment Help

Who said a reliable website should not be cheap also? While it is human nature to associate prices with quality, that does not always work. At domyhomeworkk.com, we guarantee you cheap and urgent essay help without compromising the quality.

24/7 Available Urgent Essay Writing Service

Whether it is a ‘write my essay for me cheap’ or ‘edit my essay’ order you want to request, always feel free to reach us at any time of the day. Our experts work in shifts to ensure that you access urgent essay writing services at any time of the day.

Plagiarism Free Essays Online

The punitive measures that come with plagiarized content are so harsh, and we understand that. We consequently ensure to write each client’s papers from scratch no matter how urgent the essay is. To acknowledge borrowed content, our quick writer references and cites the work.

Wow Customer Support 24/7

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

So much stress and so little time? Take care of yourself: let us help you with your tasks. We offer all kinds of writing services.

Essays

Custom Essay Writing Services

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission and Business Papers

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Editing

Editing and Proofreading

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Coursework

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.

Have a homework question? Get help from verified tutors now!