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Mattress Wholesalers, Inc., is constantly trying to reduce inventory in its supply chain. Last year, cost of goods sold was $7.5 million and inventory was $1.5 million. This year, cost of goods sold is $8.6 million and inventory investment is $1.6 million.
A) What were the weeks of supply last year?B) What were the weeks of supply this year?C) Is Mattress Wholesalers making progress in its inventory reduction effort?
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Estimated idle time of a fork lift truck is 40%. Relative accuracy desired = +/- 10%; Desired confidence level = 95%. How many observations (n) are required?
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