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Annual demand for number 2 pencils at the campus store is normally distributed with mean 1,000 and standard deviation 250. The store purchases the pencils for 6 cents each and sells them for 20 cents each. There is a two-month lead time from the initiation to the receipt of an order. The store accountant estimates that the cost in employee time for performing the necessary paperwork to initiate and receive an order is $20, and recommends a 22% annual interest rate for determining holding cost. The cost of a stockout is the cost of lost profit plus an additional 20 cents per pencil, which represents the cost of loss of goodwill. a. Find the optimal values of Q and R. b. Substitute a Type 1 service level criterion of 95% for the stock-out cost. Find the values of Q and R. c. Substitute a Type 2 service level criterion of 98% for the stock-out cost. Assume that Q is given by the EOQ. Find the values of Q and R.
Describe the elements in a HRMIS and the role such a system plays in an organization's ability to meet its goals. If you are familiar with such a system, what information does it p
rules of variety management
Which of the following industries is most likely to use database marketing? a. A supermarket chain b. A school system c. A local restaurant d. A p
Criteria for a Good Layout Maximum Flexibility: A good layout will be one which can be rapidly modified to meet changing circumstances. In this context particular attent
A typical change request from will include which of the following content item? a. a description of the change a long with the impact of marking the change. b. a status accounting
Outline a policy for scheduling vacations for a Health Information Management Department that provides daily, around-the-clock service and has both full time and part time employee
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link between work study and value analysis?
Type of Process Technologies - Continuous of Flow Production Continuous of Flow Production: Batch methods are characterized by the irregularity in the way the work is carried
Eoq Model with example
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