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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?
Given a certain population there are various ways in which a sample may be drawn from it. The chart below illustrates this point: Figure 1 In Judgem
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Simple Random Sampling In Simple Random Sampling each possible sample has an equal chance of being selected. Further, each item in the entire population also has an equal chan
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The amounts of money won by the top ten finishers in a famous car race are listed below. $1,172,246 $163,659 $440,584 $350,634 $290,596 $186,731 $145,809 $143,2
1. Use the concepts of sampling error and z-scores to explain the concept of distribution of sample means. 2. Describe the distribution of sample means shape for samples of n=36
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