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The Maju Supermarket stocks Munchies Cereal. Demand for Munchies is 4,000 boxes per year and the super market is open throughout the year. Each box costs $4 and it costs the store $60 per order of Munchies, and it costs $0.80 per box per year to keep the cereal in stock. Once an order for Munchies is placed, it takes 4 days to receive the order from a food distributor.
a. Find the optimal order quantity.
b. Find the total inventory cost associated with the optimal order quantity.
c. What is the reorder point?
d. What is the cycle time?
Standard Deviation The concept of standard deviation was first introduced by Karl Pearson in 1893. The standard deviation is the most important and the popular measure of disp
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What does the confidence level of a confidence interval tell you? Suppose that a population has mean, µ, and standard deviation, σ. What does the central limit theorem tell us
BCBSRI was able to reduce MSD related Workers Compensation cases with lost workdays by implementing a New Ergonomic Program in March 2000 and increasing workstation evaluations. Ex
Admissibility A very common concept which is applicable to any procedure of the statistical inference. The underlying notion is that the procedure/method is admissible if and o
what does it mean by moving average?
simplified formulae
DISCUSS THE METHODS OF MEASURING TREND
How to a calculate the combined standard deviation for five groups (samples)?
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