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One of the largest selling items in J.C. Ward's Department Store is a new model of refrigerator that is highly energy-efficient. About 40 of these refrigerators are being sold per month. It takes about a week for the store to obtain more refrigerators from a wholesaler. The demand during this time has a uniform distribution between 5 and 15. The administrative cost of placing each order is $40. For each refrigerator, the holding cost per month is $8 and the shortage cost per month is estimated to be $1. The store's inventory manager has decided to use the stochastic continuous-review model presented in Sec. 19.5, with a service level (measure 1) of 0.8, to determine an (R, Q) policy.
(a) Solve by hand for R and Q.
(b) Use the corresponding Excel template to check your answer in part (a). (c) What will be the average number of stockouts per year with this inventory policy?
I work in Aerospace Engineering. Aerospace components are often subjected to cyclic loads and can fail in "fatigue". The designers design the parts against fatigue failures using the "fatigue life" of the materials, typically obtained by testing the ..
You notice in your introductory psychology class that more women tend to sit up front, and more men in the back. To determine wheather this difference is significant, you collect data on the seating preferences for the students in your class. The dat..
suppose that x is a variable that has poisson distribution and satisfies pxgt1 0.6what is px6?what is
it has been observed that some persons who suffer acute heartburn again suffer acute heartburn within one year of the
An experiment was performed to compare the effect of pH on the adhe sive qualities of a lens coating. The test procedure for measuring adhesion is "noisy", that is, there is a large amount of test error in the measurement. For that reason, 10..
Expected Commercial Value Forcast
1. in january 2011 the marist poll published a report stating that 66 of adults nationally think licensed drivers
Few years ago, the average number of hours worked each week by general practitioners was known to be 49. A random sample of 29 general practitioners this year gives a mean of 52 hours per week, with a standard deviation of 4.3 hours. To test if ..
Say that the mean difference between fuel efficiency in city and highway driving for 632 vehicles was 7.37 mpg with a standard deviation of 2.52 mpg. Find a 98% confidence interval for this difference and interpret it in context
What other attributes are important in a job decision? Would the two-attribute utility function you just assessed be useful as a first approximation if many of the other at- tributes were close in comparing two jobs?
Develop a decision tree for the case of a company operating at full capacity and with product demand rising. The choice is between new equipment and overtime.
the corrosive effects of various soils on coated and uncoated steel pipe was tested by using a dependent sampling plan.
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