What is the economic order quantity and closest value

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Reference no: EM13782025

1. A certain type of computer costs $500 per unit to build and the annual inventory holding cost is 10% of the unit cost. Annual demand is 20,000 units and the setup cost is $100 per order. What is the economic order quantity (EOQ)? Find the closest value.

156

173

1414

283

2. What are the key questions to be answered by most inventory control models?

When to place an order and the cost of the order

When to place an order and the order size

Order size and the cost of the order

Order size and with whom the order should be placed

3. The expected value of perfect information (EVPI) is

Payoff for a decision made under perfect information

Maximum EMV

Maximum average payoff

Difference between the payoff under perfect information and the maximum EMV

4. Which of the following alternative will you choose using the Maximax criterion?

States of Nature

H M L

ALT. A 50 55 60

ALT. B 30 50 80

ALT. C 70 60 50

ALT. A

ALT. B

ALT. C

CANNOT BE DETERMINED

Reference no: EM13782025

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