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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.
1. What are the implications of not allocating material in a shop order after availability checking? 2. Provide some examples of static and dynamic scheduling problems.
A person stole a car from a car rental agency. The police spotted the car and gave chase. The thief hit another car, seriously injuring that driver. The person who stole the car fl
Obtaining data on the number of households that buy a particular product is an example of which type of marketing research? Explanatory Exploratory Causal Concrete
Why is scheduling fairly simple for repetitive systems but fairly complex for job shops?
Your answers for your two questions should total at least 200 words 1. How can employers guard against pay inequities in the workforce? 2. Explain the meaning of disparate i
One of the advantages of using a project cost-duration graph is that it keeps the importance of indirect costs in the forefront of decision making (true or false)
Explain the problems of homelessness based upon the developmental, situational, and human needs perspectives, what make a person become homeless, when they are well educated and no
1. Design a Web page for the business function (e.g., ordering, human resources, courier service, inventory listing, etc.). The Web page will have at least the following HTML: a
basic stages of Operation Management
a firm whether to make or buy a part required in its operation. cost and volume estimate are as follows annual fixed cost make $15000 buy none, variable cost make $60 buy $80, annu
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