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Solve different inventory control problems using an appropriate OR method.
A drug store sells prescription drugs and health supplements. Vitamins represent a significant of its sales. Demand for vitamins is 10,000 bottles per year. The store incurs a fixed order placement, transportation and receiving cost of £100 each time an order for vitamins is placed with the manufacturer, regardless to order quantity. The store incurs an annual holding cost of 20 percent of purchase price. The price charged by the manufacturer varies according to the following discount pricing.
Order quantity
Unit price
0 - 5,000
£3.00
5,000 - 10,000
£2.96
Over 10,000
£2.92
Determine the number of vitamin bottles that the store should order in each lot.
A radio station wants to know if residents in their area are in favor of a proposed tax increase. They invite listeners to call in to respond to the poll. 645 of the 800 who responded were against the tax.
The lifetime of a 2-volt non-rechargeable battery in constant use has a Normal distribution with a mean of 516 hours and a standard deviation of 20 hours. The proportion of batteries with lifetimes exceeding 520 hours is approximately.
A review of voter registration records in a small town yielded the following table of the number of males and females registered as Democrat, Republican, or some other affiliation.
Some researchers have conjectured that stem-pitting disease in peach tree seedlings might be controlled with weed and soil treatment. An experiment was conducted to compare peach tree seedling growth with soil and weeds treated with one of two her..
The conservative degrees of freedom for the t distribution are and The standard error, conservative degrees of freedom
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A random sample of students is selected, and each one is asked to try first brand A and then brand B, or vice versa with the order determined at random.
What is the probability the average of the sample is more than $38000 and What is the standard deviation of the sample mean
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This model is fit to the data using the method of least squares using statistical software, and the following ANOVA table is obtained
We are establishing a quality control program for a process and need to establish the mean and standard deviation for the process. The first 10 batches had samples of size 5 taken.
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