Op Man Final Review Problems

C omhmtpx todo pr intvie w 2329 1292014 18 assignme

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

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...
View Full Document

This note was uploaded on 01/29/2014 for the course MAN 4504 taught by Professor Georgekyparisis during the Fall '09 term at FIU.

Ask a homework question - tutors are online