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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.
In your opinion do you think Tort Reform will benefit the patients or the medical practitioners? How will this change effect medical institutions?
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A manufacturer uses a purchase part who's demand over any time period of length t (in years) can assume to be normally distributed with mean 200t and variance 400t. The part cost $
evulation of manufacring to operation
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