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The Dubuque Cement Company packs 80-pound bags of concrete mix. Time-study data for the filling activity are shown in the following table. Because of the high physical demands of the job, the company's policy is a 23% allowance for workers.
a) Compute the standard time for the bag-packing task.
b) How many observations are necessary for 99% confidence, within 5% accuracy?
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Complete additional investigation on the JIT and EOQ models. Discuss which of the two inventory models is better and why: Economic Order Quantity or Just-in-Time?
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