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Author Question: A local furniture store is examining its inventory policy and considering using an economic order ... (Read 30 times)

luminitza

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on: Jun 24, 2018
A local furniture store is examining its inventory policy and considering using an economic order quantity (EOQ) approach for a popular table set that they have had difficulty keeping in stock. They have the following information about the set: Annual demand = 5000 sets Current order quantity = 750 Carrying cost = 2.00/unit/year Order cost = 450
 a. What is the current total annual cost?
  b. What is the economic order quantity?
  c. What is the total annual cost at the EOQ?

Question 2

The use of the relative frequency method to develop discrete probability distributions leads to what is called a
 a. binomial discrete distribution.
  b. empirical discrete distribution.
  c. non-uniform discrete distribution.
   d. uniform discrete distribution.


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polinasid

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Reply #1 on: Jun 24, 2018
Answer to Question 1

a. TC = (750/2) 2 + (5 000/750) (450) = 750 + 3000 = 3750
b. EOQ = Sq Root of (2)(5000)(450)/2 = 1500
c. TC = (1500/2)(2) + (5000/1500)(450) = 1500 + 1500 = 3000

Answer to Question 2

b


luminitza

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Reply 2 on: Jun 24, 2018
Gracias!

DylanD1323

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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