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Question:
(a) What are the basic components of inventory?
(b) Name the steps for finding the optimum inventory.
(c) What are the assumptions for the Economic Order Quantity (EOQ)?
(d) What are the basic characteristics of a queuing system?
(e) What are the implications of waiting lines?
(f) Describe briefly the most important factors to consider in analyzing a queuing system.
(g) What are the assumptions of the basic simple queuing model?
How do advertisers try to use group influence? Can you find any specific examples and describe the relevant theory of group behavior and influence?
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role of managerial economist
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