Reference no: EM131397053
A=0.5 v=10/item r=%20 / year LT=10.5 months λ = 4/year
Consider the example regarding managing A items with Poisson demand.
a) Let Q=1. Determine the basestock level, s, under:
b1 costing criteria.
b2 costing criteria. Set b1 and b2 arbitrarily (but reasonably).
When deriving s, explicitly show your approach. That is express the expected total cost per unit time (TC(s)) under the corresponding cost criteria. Then, express DTC(s)=TC(s)-TC(s-1). Describe how one should use DTC(s) to determine optimal s.
b) Let Q=2. Determine the minimum reorder level, s, that satisfies Fill-rate>=0.99. Define fill-rate (P2) as the “Fraction of demand met immediately from the shelf.”
c) Another possible service level measure is ready rate, defined as the “Fraction of time during which net inventory is positive.” Ready-rate is denoted with P3, see p.245 of Silver et al 1998. Under Q=2, determine the minimum reorder level, s, that satisfies Ready-rate>=0.99. Compare the s value you have found under P3, with the s under P2. Are they the same? Explain why or why not.
|
Explain factors related to gender that might have contribute
: Crime rates show that men have higher victimization rates than women for almost all categories of violent crime except sexual assault (Truman, 2011). Gender differences vary by crime; for example, men are three times more likely than women to be v..
|
|
What is the confidence interval
: Assuming random sampling is from a normal distribution with standard deviation σ = 5, if you get a sample mean of X¯ = 45 based on n = 25 participants, what is the 0.95 confidence interval for µ?
|
|
Compute a confidence interval for the mean
: For the following situations, (a) n = 12, σ = 22, X¯ = 65, (b) n = 22, σ = 10, X¯ = 185, (c) n = 50, σ = 30, X¯ = 19, compute a 0.95 confidence interval for the mean.
|
|
Show consumers how various articles of clothing will fit
: Each team member should visit local malls and Web sites and record at least three ways that computers have improved the industry. Compile the findings and then submit a brief report to your instructor.
|
|
Express the expected total cost per unit time
: When deriving s, explicitly show your approach. That is express the expected total cost per unit time (TC(s)) under the corresponding cost criteria. Then, express DTC(s)=TC(s)-TC(s-1). Describe how one should use DTC(s) to determine optimal s.
|
|
Explain what it means to you to be an ethical researcher
: As this week's introduction suggested, ethical questions sometimes arise in research and data analysis. These ethical questions can have wide-ranging consequences for the researcher, the field of criminal justice, and for the populations that migh..
|
|
How to optimize deductions in order to reduce tax liability
: Jane comes to you to determine how to optimize her deductions in order to reduce her tax liability. What advice would you give her as to the expenditures above (assuming they all took place in the same year)?
|
|
What is the mean and variance of the sample mean
: If n = 10 observations are randomly sampled from a distribution with mean µ = 9 and variance σ 2 = 8, what is the mean and variance of the sample mean?
|
|
Figure out the probability of rolling any event
: 1. Your are playing a game of Yahtzee, which has 5 dice that you use. How many possible number arrangements (sample space) are there, so that you can figure out the probability of rolling any event.
|