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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 73 times)

kshipps

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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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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
Gracias!


raili21

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

 

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