PROCESS DESCRIPTION: Hawkeye Electronics' manufacturing line produces circuit cards using 4 operations: 1. Solder Preparation 2. Component Placement and Soldering 3. Baking 4. Inspection Solder preparation uses a semi-automated machine. The time to process a circuit card on this machine is normally distributed with a mean of 10 seconds and standard deviation of 8 seconds. After preparation, the card goes to the component placement and soldering stage. In front of this stage is a storage bin which can hold a maximum of 2 cards. Note that if the bin is full, the solder preparation stops because there is no place to store the cards. Limiting it to 2 is Hawkeye management's way of controlling the amount of work-in-process inventory. A single worker manually performs the component placement and soldering operation. A study shows that the component placement time of each circuit card is normally distributed with mean processing time of 1.0 minute and a standard deviation of 0.108 minute. The worker is responsible for the quality of his work. He visually inspects each card and repairs it if defective. The repair time is also normally distributed with an average of 40 minutes and a standard deviation of 1.080 minute. About 5% of the cards is expected to be defective. After soldering the components, there is a storage bin which can hold a maximum of 10 cards. Circuit boards are prepared (setup) for baking. The oven's capacity is 5 cards. To load the oven, boards are coated with epoxy and vertically stacked in a metal tray that slides out of the oven. This takes 7 minutes. Baking takes exactly 15 minutes. After baking, the cards are inspected. Hawkeye currently has 3 inspectors. An existing study reveals that the inspection time of each circuit card is normally distributed with an average of 13 minutes and a standard deviation of 1.08 minutes. Hawkeye's management believes sufficient demand exists for any additional circuit cards produced. Each card can be sold for a $ 2.00 profit. Hawkeye's in-house engineers identified 4 feasible projects to improve the existing process. Management will approve the project only if the project expenses can be repaid within one year with additional profits generated from new sales and/or cost savings. To do: (Setup Time Reduction Project) Reduce the cards prep time prior to baking. Each minute reduction in setup time will cost $30. Note that with the existing oven and quality of epoxy, setup time cannot be shorter than one minute. An independent evaluation of Setup Time Reduction Project. Determine the largest net profit Hawkeye can make from the project. Also evaluate and compare the project' process metrics, i.e. maximum queue length, average wait time, and utilization of each step in the process. Discuss the tradeoffs (process metrics versus cost versus profits) and decide the best number for the project. One-page memorandum, in prose with 1.5 spacing and a 12-pt. font