A local club is selling Christmas trees and deciding how many to stock for the month of December. Suppose that demand is normally distributed with a mean of 250 and standard deviation of 40, trees have no salvage value at the end of the month, trees cost $11, and trees sell for $49. What should the service level be? (Do not round intermediate calculations. Round answer to two decimal places.) OA. 0.84 OB. 0.78 OC. 0.33 OD. 0.22 OE. unable to determine given the above information
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- A health and nutrition store stocks a multivitamin with an annual demand of 1,000 bottles has Co = $24.50 and Ch = $7.The demand exhibits some variability such that the lead-time demand follows a normal probability distribution with ? = 25 and ? = 5. (a)What is the recommended order quantity? (Round your answer to the nearest integer.) (b)What are the reorder point and safety stock if the store desires at most a 4% probability of stock-out on any given order cycle? (Round your answers to the nearest integer.) reorder pointsafety stock (c)If a manager sets the reorder point at 30, what is the probability of a stock-out on any given order cycle? (Round your answer to four decimal places.) How many times would you expect a stock-out during the year if this reorder point were used? (Round your answer to the nearest integer.)Please do not give solution in image formate thanku. A health and nutrition store stocks a multivitamin with an annual demand of 1,000 bottles has Co = $24.50 and Ch = $9. The demand exhibits some variability such that the lead-time demand follows a normal probability distribution with ? = 25 and ? = 5. What is the recommended order quantity? (Round your answer to the nearest integer.) What are the reorder point and safety stock if the store desires at most a 6% probability of stock-out on any given order cycle? (Round your answers to the nearest integer.) reorder point ? safety stock? If a manager sets the reorder point at 30, what is the probability of a stock-out on any given order cycle? (Round your answer to four decimal places.) How many times would you expect a stock-out during the year if this reorder point were used? (Round your answer to the nearest integer.)Forrest and Dan make boxes of chocolates for which the demand is uncertain. Forrest says, “That’s life.” On the other hand, Dan believes that some demand patterns exist that could be useful for planning the purchase of sugar, chocolate, and shrimp. Forrest insists on placing a surprise chocolatecovered shrimp in some boxes so that “You never know what you’ll get.” Quarterly demand (in boxes of chocolates) for the last 3 years follows: Quarter Year 1 Year 2 Year 3 1 2 3 4 3,000 1,700 900 4,400 3,300 2,100 1,500 5,100 3,502 2,448 1,768 5,882 Total 10,000 12,000 13,600 a. Use intuition and judgment to estimate quarterly demand for the fourth year.b. If the expected sales for chocolates are 14,800 cases for year 4, use the multiplicative seasonal method to prepare a forecast for each quarter of the year. Are any of the quarterly forecasts different from what you thought you would get in part (a)?
- A health and nutrition store stocks a multivitamin with an annual demand of 1,000 bottles has Co = $26.50 and Ch = $7. The demand exhibits some variability such that the lead-time demand follows a normal probability distribution with ? = 25 and ? = 5. (a) What is the recommended order quantity? (Round your answer to the nearest integer.):________ (b) What are the reorder point and safety stock if the store desires at most a 6% probability of stock-out on any given order cycle? (Round your answers to the nearest integer.) reorder point:________ safety stock:________ (c) If a manager sets the reorder point at 30, what is the probability of a stock-out on any given order cycle? (Round your answer to four decimal places.):________ How many times would you expect a stock-out during the year if this reorder point were used? (Round your answer to the nearest integer.):________1. David and Beth Sheba run a health food store. Their top selling item is called Heavenly Kelp. The annual demand for this is 3200 units, and demand is constant throughout the year. The cost of placing an order is $100, while the holding cost per unit per year is $4. How many orders per year should be placed if they wish to minimize their total cost ? If you want to be eligible for partial credit, give an idea as to how you arrived at that number?In many respects, the food inventory decision for eachCelebrity cruise matches the single-period inventory modeldescribed in this chapter. Consider the decision about chicken.Suppose that Celebrity purchases chicken in bulk for $0.80 perpound, and any chicken left over after a cruise is donated tolocal food banks. Management estimates that a shortage penaltyof $1.00 per pound is incurred due to lost customer goodwillfrom unsatisfied demand. If chicken demand for a 7-daycruise is normally distributed with a mean of 3,000 pounds anda standard deviation of 200 pounds, how many pounds shouldbe brought onto the ship?
- The annual demand for a product is 15,200 units. The weekly demand is 292 units with a standard deviation of 80 units. The cost to place an order is $33.50, and the time from ordering to receipt is two weeks. The annual inventory carrying cost is $0.10 per unit. a. Find the reorder point necessary to provide a 90 percent service probability. b. Suppose the production manager is asked to reduce the safety stock of this item by 45 percent. If she does so, what will the new service probability be?A Mercedes dealer pays $40,000 for each car purchased (wholesale price). The annual holding cost is estimated to be 30% of the dollar value of inventory. The dealer sells an average of 1200 cars per year. They believe that demand is backlogged but estimate that if they are short one car for one year, the loss in future profits is about 10% of the wholesale price. Each time the dealer places an order for cars, ordering costs amount to $1600. Assume there are 360 work days per year. Question: If the Mercedes dealer wants to limit backorders so that they occur 20% of the time, what is the maximum number of backorders that should be allowed (assuming the optimal order quantity doesn't change)?A warehouse checks inventory and places an order from a supplier for a particular product once a month. The monthly demand for the product is independent and normally distributed with a mean of 500 and a standard deviation of 100. If the warehouse targets a 90% service level for this product, and the supplier’s lead time is one month, how much safety stock should be held? PLEASE SHOW CALCULATIONS/EXCEL WITH FORMULAS
- A Mercedes dealer pays $40,000 for each car purchased (wholesale price). The annual holding cost is estimated to be 30% of the dollar value of inventory. The dealer sells an average of 1200 cars per year. They believe that demand is backlogged but estimate that if they are short one car for one year, the loss in future profits is about 10% of the wholesale price. Each time the dealer places an order for cars, ordering costs amount to $1600. Assume there are 360 work days per year. Question: What percent of the time do shortages occur? I've deduced the percent of shortage time to be 25%, but am not sure I've set up my formulas correctly.Sharp, Inc., a company that markets painless hypodermic needles to hospitals, would like to reduce its inventory cost by determining the optimal number of hypodermic needles to obtain per order. The annual demand is 1,000 units; the setup or ordering cost is $10 per order; and the holding cost per unit per year is $.50. If D increases to 1,200 units, what is the new Q *? If Sharp has a 250 day working year, find out what is the number of Orders (N) What is the expected time between orders What is the total cost? 2. Lindsay Electronics, a small manufacturer of electronic research equipment, has approximately 7,000 items in its inventory and has hired Joan Blasco-Paul to manage its inventory. Joan has determined that 10% of the items in inventory are A items, 35% are B items, and 55% are C items. She would like to set up a system in which all A items are counted monthly (every 20 working days), all B items are counted quarterly (every 60 working days), and all C items are…A Mercedes dealer purchases vehicles for $20,000. The annual holding cost is estimated to be 25% of the dollar value of inventory. The dealer sells an average of 500 cars per year. He believes that demand is backlogged, but estimates that if he is short one car for one year, he will lose $20,000 in future profits. Each time the dealer places an order for cars, the ordering cost amounts to $10,000. What is the (s, Q) ordering policy that results in a 90% CSL?