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A large retailer (in Sydney) that sells products manufactured by Nanuq Australia needs to develop an inventory policy for electric heaters. The annual demand for the electric heaters is 3,000 (A) units. Each unit costs the retailer $50 (c) with holding costs amounting to 9 cents in the dollar per year (h = 0.09). The order cost is estimated to be $30 (k).(a) Assuming that the retailer does not wish there to be any shortage, determine the economic order quantity for the electric heaters.(b) Calculate the total annual relevant cost.(c) What is the time between orders (expressed as a fraction of a year)?(d) Now assume that the retailer is willing to take backorders for 20% of all purchases. Determine a new economic order quantity for the electric heaters.]
Problem 2The Top Rider Company is a small manufacturing company that uses gear assemblies to produce four different models of mountain bikes. One of these gear assemblies, the "Smooth Shifter", is used for the two most expensive of Top Rider's four models, and has an estimated annual demand of 300 units. Top Rider's estimate of the cost to place an order is $40, and the holding cost for each assembly is $60 per year. The company operates 250 days per year.(a) Determine the Economic Order Quantity(b) What is the annual inventory holding cost if Top Rider orders using the EOQ quantity?(c) What is the annual ordering cost if Top Rider orders using the EOQ quantity?(d) What is the total relevant annual cost if Top Rider orders using the EOQ quantity?(e) What is the cycle length (time between orders) when orders are placed using the EOQ quantity?(f) How many times per year must Top Rider order the Smooth Shifter when orders are placed using the EOQ quantity?(g) The purchasing manager decides that, in order to save purchasing time, orders for the Smooth Shifter will be placed once a month, or twelve times per year. How much extra does this approach cost Top Rider in total relevant annual costs (instead of Top Rider ordering using the EOQ quantity)?
Find the sample space for the number of outcomes (you don't need to list the possible outcomes, just how many possible outcomes there are).
a calculate the estimate for the standard error of difference between two independent means fornbsps12nbsp
A new group comes along and that only has 5 people. Their weights are also measured initially and after 9 weeks. What would be the most accurate methodology for determining the percentage of weight loss for this new group?
Researchers conducted an experiment to measure the effect of a drug on improving the quality of sleep as determined by how many more minutes of REM sleep were measured for each participant.
The owner of a local night club has recently surveyed a random sample of n=250 customers of the club. She would now like to determine whether or not the mean age of her customers is over 30.
Nicotine patches are often used to help smokers quit. Does giving medicine to fight depression also help? A randomized double blind experiment assigned 244 smokers to receive nicotine patches and another 245 to receive both a patch and the antidep..
Alexa got 144 on her test which has a mean of 128 and a standard deviation of 34. What is her z-score?How do you calculate the z score for the raw score of 10 based on the following distribution: 8, 9, 15, 30, 7, 8 ?
the fico credit rating scores obtained in a simple random sample are listed below. as writing the reported mean fico
the amount of time in minutes devuted to commercials on a tv channel during any half-hour program is a random variable
a group of statistics students decided to conduct a survey at their university to find the average mean amount of time
At the 5% level of significance, can we infer that branch A has a significantly higher proportion of satisfied customers than branch B?
Determine a 95% confidence interval for true mean cost to repair this type of car.
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