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8. A toy manufacturer specializes in making a very popular plastic toy. The company wants to install sufficient equipment cap
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Answer:
Annual requirement (in units) per year = 300,000

Time required to produce 1 unit = 5 min
Production machine Running hours per year = 2000 hrs = 2000 * 60 = 120000
Number of plastic toy units a machine can churn out every year = 120000 / 5 = 24000

Defect rate = 2%
=> Defective pieces produced out of 24000 units = 24000 * 2 / 100 = 480 units

So, Net yearly plastic toy units production of a single machine = 24000 - 480 = 23520

Hence total number of machines required to produce 300,000
= 300,000 / (Net yearly plastic toy units production of a single machine)
= 300,000 / 23520 = 12.755

The company should by 13 machines to meet the annual plastic toy production target.

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