Op Man Final Review Problems

C omhmtpx todo pr intvie w 2329 1292014 18 assignme

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Unformatted text preview: tuc e av erages 245 box es with a s tandard dev iation of 38 box es . How many box es of lettuc e s hould the s upermark et purc has e tomorrow? (Use Excel's NORMSINV() function to find the correct critical value for the given α­level. Do not round interm ediate calculations. Round your answer to the nearest whole num ber.) Number of box es 251 ± 1% Explanation: Cu = \$16 − \$8 = \$8 Co = \$8 − \$1.80 = \$6.20 P ≤ Cu Co + Cu = 8 6.20 + 8 = 0.5634, NORMSINV(0.5634) = 0.1596 Should purc has e 245 + 0.1596(38) = 251.065 or 251 box es of lettuc e. http://e z to.mhe c loud.mc gr a w- hill.c om/hm.tpx? todo= pr intvie w 23/29 1/29/2014 18. Assignme nt Pr int Vie w awar d: 1.42 out of 1.42 points Problem 20-12 Ray 's Satellite Emporium wis hes to determine the bes t order s iz e for its bes t­s elling s atellite dis h (model TS111). Ray has es timated the annual demand for this model at 850 units . His c os t to c arry one unit is \$65 per y ear per unit, and he has es timated that eac h order c os ts \$14 to plac e. Us ing the EOQ model, how many s hould Ray order eac h time? (Round your answer to the nearest whole num ber.) Optimal order quantity 19 units Worksheet Problem 20­12 Learning Objective: 20­02 Analyze how different inventory control systems work. Problem 20-12 Ray 's Satellite Emporium wis hes to determine the bes t order s iz e for its bes t­s elling s atellite dis h (model TS111). Ray has es timated the annual demand for this model at 850 units . His c os t to c arry one unit is \$65 per y ear per unit, and he has es timated that eac h order c os ts \$14 to plac e. Us ing the EOQ model, how many s hould Ray order eac h time? (Round your answer to the nearest whole num ber.) Optimal order quantity 19 ± 1% units Explanation: http://e z to.mhe c loud.mc gr a w- hill.c om/hm.tpx? todo= pr intvie w 24/29 1/29/2014 19. Assignme nt Pr int Vie w awar d: 1.42 out of 1.42 points Problem 20-13 Duns treet's Department Store would lik e to dev elop an inv entory ordering polic y of a 99 perc ent probability of not s toc k ing out. To illus trate y our rec ommended proc edure, us e as an ex ample the ordering polic y for white perc ale s heets . Demand for white perc ale s heets is 4,500 per y ear. The s tore is open 365 day s per y ear. Ev ery three week s (21 day s ) inv entory is c ounted and a new order is plac ed. It tak es 6 day s for the s heets to be deliv ered. Standard dev iation of demand for the s heets is four per day . There are c urrently 200 s heets on hand. How many s heets s hould y ou order? (Use Excel's NORMSINV() function to find the correct critical value for the given α­level. Do not round interm ediate calculations. Round "z " value to 2 decim al places and final answer to the nearest whole num ber.) Number of s heets 181 Worksheet Problem 20­13 Learning Objective: 20­02 Analyze how different inventory control systems work. Problem 20-13 Duns treet's Department Store would lik e to dev elop an inv entory ordering polic y of a 99 perc ent probability of not s toc k ing out. To illus trate y our rec ommended proc edure, us e as an ex ample the ordering polic y for white perc ale s heets . Demand for white perc ale s heets is 4,500 per y ear. The s tore is open 365 day s per y ear. Ev ery three week s (21 day s ) inv entory is c ounted and a new order is plac ed. It tak es 6 day s for the s heets to be deliv ered. Standard dev iation of demand for the s heets is four per day . There are c urrently 200 s heets on hand. How many s heets s hould y ou order? (Use Excel's NORMSINV() function to find the correct critical value for the given α­level. Do not round interm ediate calculations. Round "z " value to 2 decim al places and final answer to the nearest whole num ber.) Number of s heets 181 ± 1% Explanation: Serv ic e lev el P = 0.99, D = 4,500, = 4,500/365, T = 21 day s , L = 6 day s , σ = 4 per day , and I = 200. From Standard normal dis tribution, z = 2.33 q = 4,500 365 (21 + 6) + 2.33(20.785) − 200 = 181.31 → 181 20. awar d: 1.42 out of 1.42 points http://e z to.mhe c loud.mc gr a w- hill.c om/hm.tpx? todo= pr intvie w 25/29 1/29/2014 Assignme nt Pr int Vie w Problem 23-12 The following diagram s hows the flow proc es s , raw material c os ts , and mac hine proc es s ing time for three produc ts : A, B, and C. There are three mac hines (W, X, and Y) us ed in the produc tion of thes e produc ts ; the times s hown are in required minutes of produc tion per unit. Raw material c os ts are s hown in c os t per unit of produc...
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This note was uploaded on 01/29/2014 for the course MAN 4504 taught by Professor Georgekyparisis during the Fall '09 term at FIU.

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