Homework Answers
Service level is the level to which the obtained performance value is equal to the required value. Service level of 99 % means the demand equals the supply . They level to which they match is given in percentages .Hence the answer is b.
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Which of the following is implied by a service level of 99 percent? a. Approximately 99...
Suppose inventory is managed using the order-up-to model. Which of the following actions will certainly lead...
Suppose inventory is managed using the order-up-to model. Which of the following actions will certainly lead to a higher order- up to level in all cases assume the characteristics of the demand process do not change A. Increase in the target in stock probability (for the same lead time) B. Decrease the target stock-out probability (for the same lead time) C. Increase in the lead time (for the same service level). A only Bonly Conly A and B Band A...
A specific product has demand during lead time of 100 units, with a standard deviation during...
A specific product has demand during lead time of 100 units, with a standard deviation during lead time of 25 units. What safety stock (approximately) provides an 85% service level? A. 133 B. 165 C. 26 D. 41 O E. 126
Which of the following is NOT an assumption of the EOQ model? a. Continuous review b....
Which of the following is NOT an assumption of the EOQ model? a. Continuous review b. Demand is known and constant c. Lead time is known and constant d. All demand is satisfied e. All of the above are assumptions of the EOQ model
Please kindly explain all the formulas and also how to find z value from service level...
Please kindly explain all the formulas and also how to
find z value from service level in steps
Question 5: (5 Points) A local company uses an average of 650 items a day. The daily usage has a standard deviation of 23. The manager is willing to accept no more than a 1% chance of a stock out. The lead-time is 14 days. (Assuming the distribution of usage is normal). What is the re-order point? Question 6: (5 Points) A...
Average daily demand (d) 130 cases Demand Standard deviation (σd) 20 cases Service level 94.0% Service...
Average daily demand (d) 130 cases Demand Standard deviation (σd) 20 cases Service level 94.0% Service level alternative 86.0% Lead tme, LT 6 days 1. What is the standard deviation of demand during lead time? Round your answer to one decimal place. _______ cases 2. What is the required safety stock at a 94 percent service level? Round your answer to the nearest whole number. _______ cases 3. What is the reorder point? Round your answer to the nearest whole...
Which of the following shifts aggregate demand to the right? a. The price level rises. b....
Which of the following shifts aggregate demand to the right? a. The price level rises. b. The price level falls. c. The Fed increases the money supply. d. None of the above is correct.
PLEASE HELP ME WITH QUESTIONS 5 - 8 - 10 ! THANK YOU! Consider a basic...
PLEASE HELP ME WITH QUESTIONS 5 - 8 - 10 ! THANK YOU! Consider a basic economic order quantity (EOQ) model with the following characteristics: Item cost: $15 Item selling price: $20 Monthly demand: 500 units (constant) Annual holding cost: $1.35 per unit Cost per order: $18 Order lead time: 5 working days Firm's work year: 300 days (50 weeks @ 6 days per week) Safety stock: 15% of monthly demand For this problem, determine the values of: Question 1...
Peter Sagan is in charge of maintaining hospital supplies at Champs Hospital. During the past year...
Peter Sagan is in charge of maintaining hospital supplies at Champs Hospital. During the past year the mean weekly demand for a special type of tubing was 186 packages of this tubing with a standard deviation of 13 packages of tubing. The lead time for receiving this tubing from the supplier is 1.5 weeks. Peter would like to maintain a 95% service level and places an order for 750 packages every time an order is placed. a) How much safety...
QUESTION 23 Which of the following shifts aggregate demand to the left? a. The price level...
QUESTION 23 Which of the following shifts aggregate demand to the left? a. The price level falls. b. The dollar depreciates for some reason other than a change in the price level. c. Stock prices fall for some reason other than a change in the price level. d. The price level rises. QUESTION 24 Aggregate demand shifts left when the government a. decreases taxes. b. cuts military expenditures. c. creates a new investment tax credit d. None of the above...
1. Linda L. is in charge of maintaining hospital supplies at General Hospital. During the past...
1. Linda L. is in charge of maintaining hospital supplies at General Hospital. During the past year the lead-time when ordering the BX-5 bandage was six weeks. Monthly (four weeks) mean demand was 300 and monthly standard deviation of the demand was 27 units. 1.1 What is the reorder point needed to maintain a cycle service level of 99%? a. NORMINV(.99,300,27) b. NORMINV(.99,300*4/6, 27*4/6) C. NORMINV(.99, 300*6/4,27*6/4) d. None of the above 1.2 Note the additional information: It costs $1.50...
Suppose inventory is managed using the order-up-to model. Which of the following actions will certainly lead to a higher order- up to level in all cases assume the characteristics of the demand process do not change A. Increase in the target in stock probability (for the same lead time) B. Decrease the target stock-out probability (for the same lead time) C. Increase in the lead time (for the same service level). A only Bonly Conly A and B Band A...
A specific product has demand during lead time of 100 units, with a standard deviation during lead time of 25 units. What safety stock (approximately) provides an 85% service level? A. 133 B. 165 C. 26 D. 41 O E. 126
Please kindly explain all the formulas and also how to
find z value from service level in steps
Question 5: (5 Points) A local company uses an average of 650 items a day. The daily usage has a standard deviation of 23. The manager is willing to accept no more than a 1% chance of a stock out. The lead-time is 14 days. (Assuming the distribution of usage is normal). What is the re-order point? Question 6: (5 Points) A...
1. Linda L. is in charge of maintaining hospital supplies at General Hospital. During the past year the lead-time when ordering the BX-5 bandage was six weeks. Monthly (four weeks) mean demand was 300 and monthly standard deviation of the demand was 27 units. 1.1 What is the reorder point needed to maintain a cycle service level of 99%? a. NORMINV(.99,300,27) b. NORMINV(.99,300*4/6, 27*4/6) C. NORMINV(.99, 300*6/4,27*6/4) d. None of the above 1.2 Note the additional information: It costs $1.50...
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