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Author Question: Show the total cost expression and calculate the EOQ for an item with holding cost rate 18, unit ... (Read 243 times)

kshipps

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on: Jun 24, 2018
Show the total cost expression and calculate the EOQ for an item with holding cost rate 18, unit cost 8.00, annual demand of 40000, and ordering cost of 48.

Question 2

Seven students have applied for merit scholarships. This year 3 merit scholarships were awarded. If a random sample of 3 applications (from the population of 7) is selected,
 a. what is the probability that 2 students were recipients of scholarships?
  b. what is the probability that no students were the recipients of scholarship?


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Shshxj

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

TC = (1/2)Q(.18)(8) + 40000(48)/Q
Q = 1633

Answer to Question 2

a. 0.2143
b. 0.1143


kshipps

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Reply 2 on: Jun 24, 2018
YES! Correct, THANKS for helping me on my review

JCABRERA33

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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