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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.
what are the scope of operation research
Again, another point I would like to add are the ratings given to each game. During the purchasing process, CanGo has the ability to ask for I.D information to verify age. Sales mi
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what are stra thetegies used in TQM to deal with issue of cost of quality
Which statement about comparative of performance appraisal is false/1. it is a method that seek to identify one relative standing among those being rated/2.this method indicate tha
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Calculate the standard production per shift of 8 hours duration with the followings data: Observed time per unit 5 minutes Rating factor 120 % Total allowances 33.3
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