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G r a d i n g S u m m a r yThese are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below. Date Taken: 7/3/2016Time Spent:1 h , 37 min , 25 secs Points Received:68 / 80 (85%) Question Type:# Of Questions:# Correct:Multiple Choice8068G r a d e D e t a i l s - A l l Q u e s t i o n s 1. Question :
What is the formula for the break-even point of a simple profit model?Student Answer:Fixed Cost / Variable Cost Per Unit Selling Price Per Unit - (Fixed Cost / Variable Cost Per Unit) Fixed Cost / (Variable Cost Per Unit - Selling Price Per Unit) (Selling Price Per Unit -Variable Cost Per Unit) / Fixed Cost Fixed Cost / (Selling Price Per Unit -Variable Cost Per Unit) Points Received:1 of 1 Comments:2. Question :Historical data indicates that only 20% of cable customers are willing to switch companies. If a binomial process is assumed, then in a sample of 20 cable customers, what is the probability that exactly 2 customers would be willing to switch their cable?Student Answer:0.206 0.1 0.137 0.04 0.794 Points Received:1 of 1 Comments:3. Question :Below is an opportunity loss table. What decision should be made based on the minimax regret criterion?
Points Received:1 of 1 Comments:4.Question :The annual demand for a product has been projected at 2,000 units. This demand is assumed to be constant throughout the year. The ordering cost is $20 per order, and the holding cost is 20 percent of the purchase cost. The purchase cost is $40 per unit. There are 250 working days per year. Currently, the company is ordering 500 units each time an order is placed. Assuming the company uses a safety stock of 20 units resulting in a reorder point of 60 units, what is the expected lead-time for delivery?Points Received:1 of 1 Comments:5.Question :Mark Achin sells 3,600 electric motors each year. The cost of these is $200 each, and demand is constant throughout the year. The cost of placing an order is $40, while the holding cost is $20 per unit per year. There are 360 working days per year and the lead-time is 5 days. If Mark orders 200 units each time he places an order, what would his average inventory be (in units)?Points Received:1 of 1 Comments: