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Problem 3-07 (Algorithmic) The demand for Carolina Industries' product varies greatly from month to month. Based...
Problem 3-07 (Algorithmic) The demand for Carolina Industries’ product varies greatly from month to month. Based...
Problem 3-07 (Algorithmic) The demand for Carolina Industries’ product varies greatly from month to month. Based on the past two years of data, the following probability distribution shows the company’s monthly demand: Unit Demand Probability 100 0.15 200 0.2 300 0.35 500 0.3 (a) If the company places monthly orders equal to the expected value of the monthly demand, what should Carolina’s monthly order quantity be for this product? Monthly order quantity = units (b) Assume that each unit demanded...
1. The demand for a product of Carolina Industries varies greatly from month to month. Based...
1. The demand for a product of Carolina Industries varies greatly from month to month. Based on the past two years of data, the following shows the monthly demand at Carolina Industries. # Months Unit Demand 300 400 500 600 a. If the company places monthly orders equal to the expected value of the monthly demand, what should Carolina's monthly order quantity be for this product? b. What are the variance and the standard deviation for the number of units...
Do the following problems: and for a product of Carolina Industries varies greatly from month to...
Do the following problems: and for a product of Carolina Industries varies greatly from month to month. Based on the past two years of data, the following shows the monthly demand at Carolina Industries Unit Demand #Months 300 400 500 600 a. If the company places monthly orders equal to the expected value of the monthly demand, what should Carolina's monthly order quantity be for this product? b. What are the variance and the standard deviation for the number of...
Problem 14-31 (Algorithmic) A product with an annual demand of 1150 units has Co = $22.5...
Problem 14-31 (Algorithmic) A product with an annual demand of 1150 units has Co = $22.5 and Ch = $7. The demand exhibits some variability such that the lead-time demand follows a normal probability distribution with 29 and ơ-7. a. What is the recommended order quantity? If required, round your answer to two decimal places. 85.98 b, what are the reorder point and safety stock if the firm desires at most a 3% probability of stock-out on any given order...
eBook Problem 14-31 (Algorithmic) A product with an annual demand of 1000 units has Co $25.5 and Ch follows a norma...
eBook Problem 14-31 (Algorithmic) A product with an annual demand of 1000 units has Co $25.5 and Ch follows a normal probability distribution with -25 and ơ-5. $8. The demand exhibits some variability such that the lead-time demand a. What is the recommended order quantity? If required, round your answer to two decimal places. 79.84 b, what are the reorder point and safety stock if the firm desires at most a 2% probability of stock-out on any given order cycle?...
Problem 14-31 (Algorithmic) A product with an annual demand of 1100 units has Co = $24.5 and Ch = $7. The demand exhibits some variability such that the lead-time demand follows a normal probability d...
Problem 14-31 (Algorithmic) A product with an annual demand of 1100 units has Co = $24.5 and Ch = $7. The demand exhibits some variability such that the lead-time demand follows a normal probability distribution with µ = 30 and σ = 6. What is the recommended order quantity? If required, round your answer to two decimal places. Q* = What are the reorder point and safety stock if the firm desires at most a 3% probability of stock-out on...
Need help with a. Problem 11-19 (Algo) The annual demand for a product is 14,200 units....
Need help with a.
Problem 11-19 (Algo) The annual demand for a product is 14,200 units. The weekly demand is 273 units with a standard deviation of 95 units. The cost to place an order is $32.00, and the time from ordering to receipt is four weeks. The annual inventory carrying cost is $0.10 per unit. a. Find the reorder point necessary to provide a 95 percent service probability. (Use Excel's NORM.S.INV() function to find the z value. Round z...
11. Chinene Investments produces only one type of product has 40 workers. Each one of them produces 20 units per month. The demand varies during the semester according to the following table Month...
11. Chinene Investments produces only one type of product has 40 workers. Each one of them produces 20 units per month. The demand varies during the semester according to the following table Month 1 2 3 45 6 Demand (units) 700 600 500 800900 800 In order to increase/decrease production depending on the demand, the firm can offer some (paid) extra working time (each worker can produce at most 6 additional units per month at unit cost of 5 euros),...
A monthly demand for a new product is normally distributed with a mean of 2000 and a standard deviation of 200. For a given month, find the probability that the demand is: lebih daripada 2350. a....
A monthly demand for a new product is normally distributed with a mean of 2000 and a standard deviation of 200. For a given month, find the probability that the demand is: lebih daripada 2350. a. more than 2350. (2 Markah/Marks) b. kurang daripada 1600. Less than 1600. (2 Markah/Marks) c. di antara 1600 dan 2350 Between 1600 and 2350. (3 Markah/Marks) Apabila sesuatu pesanan diterima, masa yang diperlukan untuk penghantaran adalah selama satu bulan. Jika kebarangkalian untuk kehabisan stok...
Problem 11-20 (Algo) Daily demand for a product is 110 units, with a standard deviation of...
Problem 11-20 (Algo) Daily demand for a product is 110 units, with a standard deviation of 20 units. The review period is 5 days and the lead time is 6 days. At the time of review, there are 50 units in stock. If 90 percent service probability is desired, how many units should be ordered? (Use Excel's NORM.S.INVO function to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number.) Ordered...
1. The demand for a product of Carolina Industries varies greatly from month to month. Based on the past two years of data, the following shows the monthly demand at Carolina Industries. # Months Unit Demand 300 400 500 600 a. If the company places monthly orders equal to the expected value of the monthly demand, what should Carolina's monthly order quantity be for this product? b. What are the variance and the standard deviation for the number of units...
Do the following problems: and for a product of Carolina Industries varies greatly from month to month. Based on the past two years of data, the following shows the monthly demand at Carolina Industries Unit Demand #Months 300 400 500 600 a. If the company places monthly orders equal to the expected value of the monthly demand, what should Carolina's monthly order quantity be for this product? b. What are the variance and the standard deviation for the number of...
Problem 14-31 (Algorithmic) A product with an annual demand of 1150 units has Co = $22.5 and Ch = $7. The demand exhibits some variability such that the lead-time demand follows a normal probability distribution with 29 and ơ-7. a. What is the recommended order quantity? If required, round your answer to two decimal places. 85.98 b, what are the reorder point and safety stock if the firm desires at most a 3% probability of stock-out on any given order...
eBook Problem 14-31 (Algorithmic) A product with an annual demand of 1000 units has Co $25.5 and Ch follows a normal probability distribution with -25 and ơ-5. $8. The demand exhibits some variability such that the lead-time demand a. What is the recommended order quantity? If required, round your answer to two decimal places. 79.84 b, what are the reorder point and safety stock if the firm desires at most a 2% probability of stock-out on any given order cycle?...
Need help with a.
Problem 11-19 (Algo) The annual demand for a product is 14,200 units. The weekly demand is 273 units with a standard deviation of 95 units. The cost to place an order is $32.00, and the time from ordering to receipt is four weeks. The annual inventory carrying cost is $0.10 per unit. a. Find the reorder point necessary to provide a 95 percent service probability. (Use Excel's NORM.S.INV() function to find the z value. Round z...
11. Chinene Investments produces only one type of product has 40 workers. Each one of them produces 20 units per month. The demand varies during the semester according to the following table Month 1 2 3 45 6 Demand (units) 700 600 500 800900 800 In order to increase/decrease production depending on the demand, the firm can offer some (paid) extra working time (each worker can produce at most 6 additional units per month at unit cost of 5 euros),...
A monthly demand for a new product is normally distributed with a mean of 2000 and a standard deviation of 200. For a given month, find the probability that the demand is: lebih daripada 2350. a. more than 2350. (2 Markah/Marks) b. kurang daripada 1600. Less than 1600. (2 Markah/Marks) c. di antara 1600 dan 2350 Between 1600 and 2350. (3 Markah/Marks) Apabila sesuatu pesanan diterima, masa yang diperlukan untuk penghantaran adalah selama satu bulan. Jika kebarangkalian untuk kehabisan stok...
Problem 11-20 (Algo) Daily demand for a product is 110 units, with a standard deviation of 20 units. The review period is 5 days and the lead time is 6 days. At the time of review, there are 50 units in stock. If 90 percent service probability is desired, how many units should be ordered? (Use Excel's NORM.S.INVO function to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number.) Ordered...
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