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1. In your knowledge describe what EOQ is (direct quotations for the entirety of the explanation are unacceptable).
- What assumptions are made in calculating the economic order quantity?
- What production strategies should not employ an EOQ approach to ordering and why?
2. What are some key issues when implementing and operating an inventory control system?
3. "Those birds sure go through a lot of food," Clara exclaimed as she saw the shopping list pad that had been pre-printed with the words "bird feed" at the top. She pondered a different approach to shopping for her feathered friends, reviewed her shopping records, and discovered the following. The price of bird feed has held steady at 89 cents per can. Each of the seven birds nibble their way through an average of one can per day, three hundred sixty five days a year. The price of gasoline has held constant at $3.50 per gallon and her pickup uses a gallon each way to the grocery food store. The cost to hold a can of bird feed is 10% of the unit price.
What is whistleblowing? If you were the CEO of BHP, using TWO ways, explain how you would promote whistleblowing at BHP to generate the best outcomes for all st
CD players are normally distributed with a mean of 7.1 years and a standard deviation of 1.4 years
Using shifts in supply and demand curves, describe how a change in the exchange rate affected your industry. Label the axes, and state the geographic, product, and time dimensions of the demand and supply curves you are drawing.
How closely does the labor market for the following type of worker approximate a perfectly competitive market? What, if any, are the major imperfections in each market? a. migrant farm worker b. steel worker c. nurse d. bank executive
The other graph represents a normal distribution with mean µ=16 and standard deviation s=2. Determine which graph is which and explain how you know.
Suppose there are two inputs in the production function, labor (L) and capital (K), which can be combined to produce Y units of output according to the following production function: Y = 30K + 10L The firm wants to produce 600 units of output.
Create the Positioning and Branding portion of the Marketing Communications Plan using the business and information presented in the case study. They want to keep the “family’s” restaurant as a legacy to their family members who left it to them. Howe..
Two mutually exclusive alternatives are under consideration. Alt A. will cost $40,000, provide annual benefits of $15,000 and a salvage of $4000 at the end of its 4 year life. Alternate B will cost $63,000, provide annual benefits of $21,000, and a s..
(Cournot's duopoly game with linear inverse demand and a quadratic cost function) Find the Nash equilibrium of Cournot's game when there are two firms, the inverse demand function is given by P(Q) = a - 2* Q and the cost function of each firm is
The demand for each ticket is P = 350 - Q. ES's cost is $10,000 plus $50 per ticket. (i.e., C(Q)=10.000+50Q ).
Which of the following statements about economists' assessment of protectionism is true?
Can we assert at the level of significance a = 0.05 that the first delivery truck on its route makes a larger number of deliveries than the second delivery.
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