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Q. Everett Mann's Dream Store sells waterbeds and supplies. The best selling bed in the store has a Yearly demand of 400 units. The ordering cost is $40, while the holding cost is $5 per unit per year. There are 250 working days per year and the lead-time is 6 days.
(a) To minimize total cost, explain how many units should be ordered each time an order is placed?
(b) If the holding cost per unit was $6 instead of $5, illustrate what would the optimal order quantity be?
Frank Hurley is the farmer with 250 acres on which he wishes to plant wheat and corn to maximize his expected return for season. Based upon the output, what key points would you recommend to Frank?
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With the semester almost over, Jan plans on taking a 3-month summer vacation to England and doesn't want to leave any unfinished posters behind. Find the integer solution that will maximize her profit.
Quarter-inch stainless-steel bolts 1 ½ inches long are consumed in a factory at a fairly steady rate of 60 per week. Bolts cost plant 2 cents every. It cost plant $12 to initiate an order also holding costs are based on an annual interest rate of ..
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