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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.
After reading the Concluding Case entitled "Barbara's World of Windows, Fabrics, and Accessories", what are the major problem issues facing Sandy, and what specific recommendations
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I feel like there is not enough information to even start. Can someone help explain what to do? Maybe if I can start, then I can do the rest on my own.
What are some of the challenges inherent in maintaining both individual and team identity? Please provide real world examples.
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Explain to a new project manager how you ensure that all steps in project completion have been finalized
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