What is the annual inventory holding cost

Assignment Help Basic Statistics
Reference no: EM131940062

1. Ross White's machine shop uses 2,500 brackets during the course of a year, and this usage is relatively constant throughout the year. These brackets are purchased from a supplier 100 miles away for $15 each, and the lead time is 2 days. The holding cost per bracket per year is $1.50 (or 10% of the unit cost) and the ordering cost per order is $18.75. There are 250 working days per year.

1. What is the EOQ?

2. Given the EOQ, what is the average inventory? What is the annual inventory holding cost?

3. In minimizing cost, how many orders would be made each year? What would be the annual ordering cost?

4. Given the EOQ, what is the total annual inventory cost (including purchase cost)?

5. What is the time between orders?

6. What is the ROP?

Reference no: EM131940062

Questions Cloud

A brief discussion of the firms structure and organization : Write a report on an article that was written within the past year that deals with a topic directly affecting the competitiveness of the student's chosen firm.
Discuss nurse charges for diabetes management education : Discuss Nurse charges for Diabetes Management Education as a Physician Visit and Employee attacks patients while under the influences of narcotics.
Probability that a person selected at random consumes less : The average number of meat a person consumes a year is 218.4 pounds. Assume standard deviation is 25 pounds. Find the probability that a person selected.
What is the objective of jit : For example, will the adjustment for quantity discounts easily work? What is the objective of JIT
What is the annual inventory holding cost : Given the EOQ, what is the average inventory? What is the annual inventory holding cost?
Describe the key concepts related to database marketing : Describe the key concepts related to database marketing and review the strengths and opportunities as to the use of database marketing
Define the firm disbursement float : On an average day, DDL Enterprises writes checks totaling $1,500. These checks take an average of 5 days to clear. On an average day, DDL receives checks.
Ensure individuals and communities are healthy : Making a healthy living as a default has been proposed as the best approach to ensure individuals and communities are healthy. Discuss
Compare the elements of each of the team websites : Visit the websites of one MLB team, one NHL team, one NFL team, and one NBA team. Compare and contrast the elements of each of the team's websites

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd