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A manager of an inventory system believes that inventory models are important decision-making aids. The manager has experience with the EOQ policy, but has never considered a backorder model because of the assumption that backorders were "bad" and should be avoided. However, with upper management's continued pressure for cost reduction, you have been asked to analyze the economics of a backorder policy for some products that can possibly be backordered. For a specific product with D = 800 units per year, Co = $150, Ch = $5, and Cb = $30, what is the difference in total annual cost between the EOQ model and the planned shortage or backorder model? If the manager adds constraints that no more than 25% of the units can be backordered and that no customer will have to wait more than 15 days for an order, should the backorder inventory policy be adopted? Assume 250 working days per year.
the mean and standard deviation on a calculus mid term are 55 and 16 points while they are 65 and 22 on the final. if a
Find the mean, autocorrelation function and variance of the MA(2) process, assuming that n>2 for the output process Y[n].
draw a Venn diagram showing the overlapping sets A and B and fill in the probabilities of the four regions formed.
Experts claim that 10% of murders are committed by women. is there enough evidence to reject the claim if in a sample of 67 murders, 10 of them were committed by women? use a significance level of .01
Compute the population mean, the population median, the population midrange, the population range, the population variance, the population standard deviation, and the population proportion of odd numbers. Verify the following results:
Set up the 2x2 table for these data. Calculate the risk ratio of gastroenteritis associated with swimming in the upper deck pool. State in words your interpretation of the above risk ratio. Calculate the risk difference in the above example
What, in general, is a test statistic? Which test statistic would you use for a two-sided t-test?
In a survey on corporate ethics, a poll split a sample at random, asking 538 faculty and corporate re- cruiters the question: "Generally speaking, do you believe that MBAs are more or less aware of ethical issues in business today than five years ..
golfweek reported in 2003 that the driving distance for the top 100 golfers on the pga tour is between 287.7 and 310.6
Seatbelts. Suppose 75% of all drivers always wear their seatbelts. Let's investigate how many of the drivers might be belted among five cars waiting.
the labor bureau wants to estimate at a 98 confidence level the proportion of all households that receive welfare. the
q1. for the following questions would the following be considered significant if its probability is less than or equal
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