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An animal health care distributor has a Distribution Center (DC) in the Chicago, IL. The company would like to store penicillin that is used for companion animals at this facility. Given data below calculate the inventory management parameters as well as information required for reporting. Based on the past data it is estimated that demand for the penicillin follows normal distribution with mean equal to 1800 doses per month and standard deviation for demand is 300 doses per month. It is assumed that inventory holding rate will be 26% per unit per year and cost of each dose of penicillin is $40. In addition, the company pays $150 whenever they place an order; the lead time is 6 weeks. The objective customer service level is 99%.
Calculate the economic order quantity, EOQ at the DC
Calculate the safety stock, ss
Calculate the reorder point, ROP.....C
Calculate the average inventory level (AIL)....
Calculate the total cost expected cost of penicillin for the company
Suppose the price of airfare from SFO to JFK increases from $330 to $360 while no other variables change. In consequence, the quantity of tickets sold decreases from 180 to 140. Calculate the absolute value of the price elasticity of demand. (Hint: u..
In the formula for Bayes Theorem, if the w-probability is greater than zero then the a-probably is less than the b-probability. Posted offer markets with at least two sellers will generate prices that remain a little above prices from double auction ..
Consider a hypothetical market for paper. you are given the following demand, supply and MEC curves: P=100-Q MC=1/4Q MEC=10 Draw a diagram that shows the privately and socially optimal outcomes. Determine the socially optimal level of production and ..
As the economy emerged from the most recent recession, household income rose by 6%. Over the same period, total expenditures on beef increased by 3%. Assuming that all other economic variables were held constant,
Quigley Inc. is considering two financial plans for the coming year. Management expects sales to be $301,770, operating costs to be $266,545, assets to be $200,000, and its tax rate to be 35%. Under Plan A it would use 25% debt and 75% common equity.
What is the steady state in the Solow growth model? How is it reached from some other initial situation in which the conditions required for the steady state are not satisfied?
When sellers have more information about hidden characteristics of a good than buyers have, more low-quality units are likely to be sold than high-quality units.
A monopolistically competitive industry such as baked goods also a perfectly competitive industry like wheat farming are alike
First suppose that there is no tax in the country Randland. A resident, Dagny, has an hourly wage of $50. How is it possible for Dagny to increase her hours worked after a tax? Graph the labor supply decision for Dagny on a daily income-leisure graph..
Evaluate this monitoring system. What would you do differently? Consider the benefits as well as costs of any change you recommend.
Illustrate would be the effect on D' of decreasing the variable cost per unit by 25% if the fixed costs thereby increased by 10%.
1. economics is the study of the principles governing the allocation of scarce means among competing ends when the
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