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homework 6 solutions

homework 6 solutions - BUAD 311T 1 Management Consultant =...

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1 BUAD 311T Solutions to Homework 6 . 1. Management Consultant λ = 1200/yr., K = 10, h unknown (a) If Q* = 100 2*10*1,200 100 2*10*1,200 10000 \$2.40/ h h h unit year = = = (b) Q* = 50 60 . 9 200 , 1 * 10 * 2 = (c) 10*1,200 100 ( 100) 9.60 \$600/ 100 2 10*1,200 50 ( 50) 9.60 \$480/ 50 2 C Q yr C Q yr = = + = = = + = Î Pay the Management Consultant 2. JCA Chapter 17 Problem 24 Service level P = .98, d = 5000/365 boxes per day, T = 14 days, L = 3 days, σ = 10 boxes per day, and I = 60 boxes. I z L T d q L T + + = + σ ) ( 2 2 ) 10 )( 3 14 ( ) ( + = + = + σ σ L T L T = 41.23 boxes From Standard normal distribution, z = 2.05 60 ) 23 . 41 ( 05 . 2 ) 3 14 )( 365 / 5000 ( + + = q = 257.40 257 boxes 3. JCA Chapter 17 Problem 25 * 2 2(500)100 .20(500) K Q h λ = = = 31.62 32 refrigerators = L σ 10 refrigerators From Standard normal distribution, z = 1.88 L z L d R σ + = = (500/365)(7) + (1.88)10 = 9.59 + 18.8 = 28.39 28 refrigerators Order 32 refrigerators when the on-hand inventory level reaches 28 refrigerators

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