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A large supplier of electronic components has decided to control the inventory of a certain item by a periodic review, order up to R policy. The mean demand rate for this item is 500 units per year. The lead time? Is nearly constant at three months. The demand in the time? + T can be represented by a normal distribution with mean 500 (? + T) and the variance 800(? + T). The cost of each unit is $10, the inventory carrying cost rate is 0.10, the cost of making a review and placing an order is $15, and the cost of backorder is estimated to be $30. Find the optimal quantity and period for this problem.
A state department of tourism and recreation collects data on the number of cars with out-of-state license plates in a state park. (The group's position is that more out-of-state p
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As a result of testing 20,00 electric bulbs manufactured by a company it was found that the lifetime of the bulbs was normally distributed with a mean of life of 2040 hours with st
The fixed cost and the variable cost of production of product are 200000USD and demand is 500units to break even unit price of first 300 item will be?
Explain how process technology is chosen for an operation.
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Optimal solutions to linear programming problems are found under probabilistic assumptions
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