Your firm uses a periodic review system for all SKUs classified, using ABC analysis, as B or C it...
Sam's Cat Hotel operates 52 weeks per year, 5 days per week, and uses a continuous review inventory system. It purchases kitty litter for $11.25 per bag. The following information is available about these bags. Refer to the for z-values. >Demand 96 bags/week > Order cost $58/order > Annual holding cost 28 percent of cost >Desired cycle-service level 90 percent > Lead time #2 week(s) (10 working days) >Standard deviation of weekly demand 10 bags >Current on-hand inventory is 300...
A company begins a review of ordering policies for its continuous review system by checking the current policies for a sample of SKUs. Following are the characteristics of one item: follows≻Demand (D) = 80 units/week (Assume 50 weeks per year) follows≻Ordering and setup cost (S) =90/order follows≻Holding cost (H) =18/unit/year follows≻Lead time (L) = 22 week(s) follows≻Standard deviation of weekly demand = 2020 units follows≻Cycle-service level = 9292 percent follows≻EOQ = 200200 units Using the above information, develop the best...
Bass-killer, a special plastic bait, is available at the Winona Fishing Cabin(WFC) at $10 per bag. The demand can be approximated by a normal distribution with a mean of 21 bags per week and a standard deviation of 3.4 bags per week. Lead time is 3 weeks, and there will be shipping cost $50 for each order. The new manager desires a chance of stockout of 5% or lower, and estimates the annual inventory holding cost is 20% of sales...
Osprey Sports stocks everything that a musky fisherman could want in the Great North Woods. A particular musky lure has been very popular with local fishermen as well as those who buy lures on the Internet from Osprey Sports. The cost to place orders with the supplier is $40 per order; the demand averages 5 lures per day, with a standard deviation of 1 lure; and the inventory holding cost is $1.00/lure/year. The lead time form the supplier is 9...
z .00 .01 .02 .03 .04 .05 .06 .07 .08 .09 z 0.0 0.5000 0.5040 0.5080 0.5120 0.5160 0.5199 0.5239 0.5279 0.5319 0.5359 0.0 0.1 0.5398 0.5438 0.5478 0.5517 0.5557 0.5596 0.5636 0.5675 0.5714 0.5753 0.1 0.2 0.5793 0.5832 0.5871 0.5910 0.5948 0.5987 0.6026 0.6064 0.6103 0.6141 0.2 0.3 0.6179...
Al Claim: deviation = 8.2, Sample information! Variance-59.8 Sample size=55 Test the claim with 95% confidence TABLE 3 Cumulative Probability Cumulative Areas of the Standard Normal Distribution continued) The entries in this table are the cumulative probabilities for the standard standard deviation 1). The shaded area under the curve of the standard normal distribution represents the cumulative probability to the left of a to s-value in the left-hand tail. 1 0.02 00 01 02 03 04 18 0.00 0.01 0.03...
Weight (gm) 8.499993 8.499998 8.499996 8.499996 8.499987 8.499987 8.499996 8.500008 8.499997 8.499996 Steps 1. Open the Excel workbook almer-jones.xls 2. Type the text Sample mean weight in cell C1 and calculate the sample mean weight in cell C2 3. Type the text Test statistic in cell C4 and calculate the test statistic in cell C5 using the formula y-8.5 o/V10 4. Use the standard normal tables to determine the P-value 5. Hence determine whether the claim that the true weight...
Question 2 How did we get the following: 1.F (+4.96) = 1 from the table ? 2. B= p(-4.96<z<-1.04) = B = 0.1492-0 ? How did we get 0.1492 and 0 from the table ? Note: I am not allowed to use excel . Please explain and show all steps IV Standard Normal Distribution Table (Probability Content from -oo to z) The entries in this table give the cumulative area under the standard normal curve to the left ofz with...
Score: 0.33 of 1 pt 13 of 16 (14 complete) 7.2.47 The mean incubation time of fertilized eggs is 19 days. Suppose the incubation times are approximately normally distributed with a standard deviation of 1 da (a) Determine the 14th percentile for incubation times. (b) Determine the incubation times that make up the middle 97%. Click the icon to view a table of areas under the normal curve (a) The 14th percentile for incubation times is days. (Round to the...
Two questions For each of the following questions: clearly indicate the probability distribution being used to solve the problem solve by hand, and verify your answer using MATLAB. 1. Two teams, A and B, play a series of games. If team B has a probability 0.4 of winning each game, is it to their advantage to play the best three out of five games or the best four out of seven, and why? Assume the outcomes of successive games are...