Question: - An order for 10 custom-designed castings has been received. The casting process costs $1500per unit scheduled. If a casting is not sold it has

- An order for 10 custom-designed castings has been received. The casting process costs $1500per unit scheduled. If a casting is not sold it has a recycle value of $300. The customer has indicated a willingness of to pay $2000 per casting for acceptable casting- no more no less! - If number of good casts is less than 10 then the customer does not accept - For only one casting if we have the 8% chance probability of having defective Hint: Binomial Distribution - How many casting should be scheduled for production in order to maximize profit

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