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The Central Valve Company sells industrial valves and fluid control devices. One of Central's most popular valves, the Western, has an annual demand of 6,000 units. The price of each valve is $76, the inventory carrying cost is $5, and the ordering cost is $150 per order. What is the economic order quantity?
An example would be the total dollar value of all the change setting in piggy banks across the United States. Please do not use this example also please Show steps.
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A quality characteristic has a manufacturing specification (in cm) of 0.200 ± 0.05. Historical data indicate that if the quality characteristic takes on values larger than 0.25 cm or smaller than 0.15 cm.
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