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A large supplier of electronic components has decided to control the inventory of a certain item by a periodic review, order up to R policy. The mean demand rate for this item is 500 units per year. The lead time? Is nearly constant at three months. The demand in the time? + T can be represented by a normal distribution with mean 500 (? + T) and the variance 800(? + T). The cost of each unit is $10, the inventory carrying cost rate is 0.10, the cost of making a review and placing an order is $15, and the cost of backorder is estimated to be $30. Find the optimal quantity and period for this problem.
There are several different models of business development that entrepreneurs can utilize when developing or enhancing their organization. Research on stages of business developmen
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I have an assignment this week to read "Ramada Demonstrates its Personal Best" on the 'Companion Website.' Do I have access to questions/answers that go along with that?
A medical facility does MRIs for sports injuries. Occasionally a test yields inconclusive results and must be repeated. Using the following sample data and n = 195. SAMPLE 1 2 3 4
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Bloomsday Outfitters produces T-shirts for road races. They need to acquire some new stamping machines to produce 30,000 good T-shirts per month. Their plant operates 200 hours per
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