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Gentle Ben's Bar and Restaurant uses 7,300 quart bottles of an imported wine each year. The effervescent wine costs $4 per bottle and is served only in whole bottles because it loses its bubbles quickly. Ben figures that it costs $5 each time an order is placed, and holding costs are 30 percent of the purchase price. It takes three weeks for an order to arrive. Weekly demand is 146 bottles (closed two weeks per year) with a standard deviation of 30 bottles. Ben would like to use an inventory system that minimizes inventory cost and will provide a 90 percent service probability.
a. What is the economic quantity for Ben to order? (Round your answer to the nearest whole number.)Economic order quantity bottles=b. At what inventory level should he place an order? (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Do not round intermediate calculations. Round "z" value to 2 decimal places and final answer to the nearest whole number.)
who has not previously purchased any options,is purchasing Option H in addition to $2400 of equipment. What will be the total price of their order?
Developing Risk Mitigation Strategies. Develop a preliminary risk mitigation strategy for each of risk factors identified in Problem. If you were to prioritize your efforts which risk factors would you address first.
Morton Financial must decide on the percentage of available funds to commit to each of two investments, referred to as A and B, over the next four periods.
Profits per unit of solutions A also B are $8 also $10, respectively. Daily demand for solution A lies between 30 is 150 units, also which for solution B between 40 and 200 units. Find optimal production amounts of A also B using Graphical Method.
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The Lynx Company uses a functional system for their sales system. It takes the orders from their salesmen in the field, processes those orders in the office, sends the information to accounting, and distributes the pick orders to the warehouse for pi..
Assume that you are about to deposit $1,000 in a passbook savings account that pays an annual interest of 4 percent.
Mr. Gregg has made an inflammatory speech denouncing the action of the government in the recent war. The government can restrict his speech through regulation:
Midwest Nut Organization produces cans of mixed-nuts on a high volume assembly line. Using data of last two months, it established average also range control charts to monitor the can-weight. Is the process still in control.
George Johnson recently inherited a large sum of money; he wants to use a portion of this money to set up a trust fund for his two children.
When the shirts are completed, they are to be shipped directly to Chicago at a transportation also storage cost of $6 per cwt. An import duty of $0.50 per shirt is assessed.a. From a logistics-production cost standpoint, should the shirts be produc..
Suppose which standard deviation of process distribution is 5.77. If specifications for access time are 500 ± 18 sec., is process capable? Why or why not? Assume three-sigma quality.
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