It is always difficult to identify all possible outcomes. A good example would be track and field.

During a race the hopes that your favorite runner will win, would depend on the number of runners during the race. Standard to a typical track race is 8 lanes 8 runners. Now lets say lanes where to be added to a straightaway tracks, rather than an oval track, the outcome increases as the number of runners increase. If you were to have your heart on lane 12(favorite runner) to win the race, the number of outcomes increases, greater than exponential rate, since a race with n lanes will have n! Possible, all of which would be mutually exclusive.
Problem Set 4 Solve problems 5±12, 5±14, and 5±18. Save your responses in a Word file. Name it PS4.doc and upload to your student folder, due by the end of Week 4. (LO 3, 4) Click the link to the left to submit Problem Set 4 by midnight, Day 7. Problem Set 4 - 2% of the course grade (Gradebuilder: 2 points or percent of the course grade) Writing 2 Prepare a two page report that describes the uses of business forecasting, due by the end of Week 4. (LO 4) Click the link to the left to submit Writing 2 by midnight, Day 7. Writing 2 - 2% of the course grade (Gradebuilder: 2 points or percent of the course grade) Problem Set 5 Solve problems 6±18, 6±23, and 6±26. Save your responses in a Word file. Name it PS5.doc and upload to your student folder, due by the end of Week 4. (LO 3) Click the link to the left to submit Problem Set 5 by midnight, Day 7. Problem Set 5 - 2% of the course grade (Gradebuilder: 2 points or percent of the course grade) Writing 3 Prepare a two page report that describes the uses of business inventory control, due by the end of Week 4. (LO 5) Click the link to the left to submit Writing 3 by midnight, Day 7. Writing 3 - 2% of the course grade (Gradebuilder: 2 points or percent of the course grade)

Lila Battle has determined that the annual demand for number 6 screws is 100,000 screws. Lila, who works in her brother s hardware store, is in charge of purchasing. She estimates that it costs $10 every time an order is placed. This cost includes her wages, the cost of the forms used in placing the order, and so on. Furthermore, she estimates that the cost of carrying one screw in inventory for a year is one-half of 1 cent. Assume that the demand is constant throughout the year.

For John s ordering policy to be correct.80. (a) What is the daily demand rate? (b) What is the optimal production quantity? (c) Howlongwillittaketoproducetheoptimalquan- . He has determined that setup costs would be $25 in machinist time and lost production time. The holding cost would be 10% of this cost. has been in the habit of ordering 100 pairs at a time. and 50 brackets could be produced in a day once the machine has been set up.lar sandal is 500 pairs. what would the carrying cost as a percentage of the unit cost have to be? If the carrying cost were 10% of the cost. and John Dirk.Shoe Shine is a local retail shoe store located on the north side of Centerville. Ross estimates that the cost (including labor time and materials) of producing one bracket would be $14. Annual demand for a popu. what would the optimal order quantity be?  OQ minimizes the sum of holding and setup costs  Q = 2DCo/Ch D = annual demand Co = ordering/setup costs Ch = cost of holding one unit of inventory Ross White (see Problem 6-25) wants to reconsider his decision of buying the brackets and is considering making the brackets in-house. the owner of Shoe Shine. John estimates that the ordering cost is $10 per order. The cost of the sandal is $5 per pair.

what would be the maximum inventory level? What would be the average inventory level? What is the annual holding cost? (e) How many production runs would there be each year? What would be the annual setup cost? (f) Given the optimal production run size. what is the ROP? .tity? How much inventory is sold during this time? (d) If Ross uses the optimal production quantity. what is the total annual inventory cost? (g) If the lead time is one-half day.

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