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Annual demand for number 2 pencils at the campus store is normally distributed with mean 1,000 and standard deviation 250. The store purchases the pencils for 6 cents each and sells them for 20 cents each. There is a two-month lead time from the initiation to the receipt of an order. The store accountant estimates that the cost in employee time for performing the necessary paperwork to initiate and receive an order is $20, and recommends a 22% annual interest rate for determining holding cost. The cost of a stockout is the cost of lost profit plus an additional 20 cents per pencil, which represents the cost of loss of goodwill. a. Find the optimal values of Q and R. b. Substitute a Type 1 service level criterion of 95% for the stock-out cost. Find the values of Q and R. c. Substitute a Type 2 service level criterion of 98% for the stock-out cost. Assume that Q is given by the EOQ. Find the values of Q and R.
Choose any company web site (it can be your own company) and evaluate its effectiveness. Write an essay of between 750-1000 words, double-spaced, focusing on such topics as the web
Give an example of a project layout. Describe the site and how the environment is organized?
Question 1: There is no use in considering non-financial issues when motivating people as many consider that money is the prime and only motivating factor. Discuss this st
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The graphic design shop where you work as the Account Manager is doing well. Just last year, the owner hired three new designers and a receptionist, bringing the total number of em
Define the term Economic Order Quantity. Economic Order Quantity (EOQ): A mathematical computation for a fixed quantity of inventory ordered every time which would minimi
1. Choose an organisation with which you are either interested or familiar (you could select to look at an area of your own or you could look at another organisation where informat
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