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A manager of an inventory system believes that inventory models are important decision-making aids. The manager has experience with the EOQ policy, but has never considered a backorder model because of the assumption that backorders were "bad" and should be avoided. However, with upper management's continued pressure for cost reduction, you have been asked to analyze the economics of a backorder policy for some products that can possibly be backordered. For a specific product with D = 800 units per year, Co = $150, Ch = $5, and Cb = $30, what is the difference in total annual cost between the EOQ model and the planned shortage or backorder model? If the manager adds constraints that no more than 25% of the units can be backordered and that no customer will have to wait more than 15 days for an order, should the backorder inventory policy be adopted? Assume 250 working days per year.
What is Cruise's operating cash flow, investment in operating capital and free cash flow for 2008, respectively in millions?
Mmaximum error of estimate was 30. if he were to conduct a second study to reduce the maximum error of estimate to 6, about how many hard drives.
Use Chebyshev's theorem to determine what percent of values will fall between 58 and 82 for data set with mean of 70 and standard deviation of 4.
a. Compute the value of the test statistic. b. Determine the p-value; and using a = .063, test the above hypotheses.
If 100 people are exposed to the ad, what is the probability that at least 20 of them will try the product in the following four months?
A clinical trial is run to investigate the effectiveness of an experimental drug in reducing preterm delivery to a drug considered standard care and to placebo.
Conduct a t-test for independent samples to determine if respondents' assessment of County government service delivery differed between those who had contact with the County in the last year versus those who did not.
Suppose the mean number of episodes is 2.4 per year. Let X be the number of episodes in the 2-year period 2008 2009.
a random sample of 55 standard hotel rooms in the philadelphia pa area has a mean nightly cost of 154.17 and a standard
Calculate the mean and median of the data set. What do the mean and median suggest about the distribution of the data?
test the significance of the correlation coefficient r at a 0.05 for the data below.x values 55 61 70 78 88y values 89
If nine pairs of running shoes are selected (n = 9), find the probability that the mean cost of a pair of shoes will be less than $80: P.
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