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American Home, Inc. stocked Christmas trees every Christmas season at its store. At the end of the week before Christmas, unsold trees are reduced in price by 70% and are picked up by an entrepreneur who sells them at the Market Street and Broadway. If American Homes demand for Christmas trees is normally distributed with a mean of 200 trees and standard deviation of 25 trees, find the price for which a tree sells. Assume a service level of 95% and that the American home purchases trees for $2 each.
Lead time also appears normally distributed with a mean of eight days and a standard deviation of one day. What ROP would provide a stockout risk of 10 percent during lead time?
The Bureau of Labor Statistics collects input and output data from various countries for comparison purposes. Labor hours are the standard measure of input. Calculate the output per hour from the following data. Which country is most productive?
The demand forecasts for the next four quarters pertaining to a firm, that produces a single product line, are: 1200, 2000, 1500 and 1000 standard product units, respectively. Each standard product requires 10 direct labor hours to produce. Determine..
What are some obstacles to creating a flexible workforce? What are the benefits?
Considering the total cost, composed of the holding cost and ordering cost and including the acquisition cost of the knives, how many should she buy per order to realize the lowest total cost?
Discuss why project managers are integral to managing successful projects. Explain the relevance of the following characteristics: knowledge, performance, and personal.
UDI Pharmaceuticals orders its antibiotics every two weeks (14 days) when a salesperson visits from one of the Pharmaceutical companies. Tetracycline is one of its most prescribed antibiotics, with average daily demand of 2,000 capsules. UDI uses Fix..
Draw a decision tree for a defendant's Plea-Bargain Dilemma. There is a dilemma faced by a defendant who is accused of a crime and whose attorney has arranged a plea bargain.
Of the five management functions, which do you expect will experience the most dramatic changes in the next decade?
a. How many cases should be ordered at a time? b. How often will coffee be ordered? c. What is the annual cost of ordering and carrying coffee?
Foreign registration cards often require significantly more personal information than is required from domestic registration cards. Some management personnel feel that this extra data amounts to an invasion of the guest's privacy.
Discuss the concept of switching costs and the role of data related to switching costs. Provide an example related to your discussion.
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