What assumptions are made in calculating the economic order quantity? Which of these assumptions is the least realistic? Why?
What will be an ideal response?
The assumptions are constant demand known with certainty, no constraints on the size of each lot, only two relevant costs, decisions made independently, and no uncertainty in lead-time and supply. Answers will vary as to the least realistic assumption.
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In a southern state, it was revealed that 5% of all automobiles in the state did not pass inspection. Of the next ten automobiles entering the inspection station, a.what is the probability that none will pass inspection?b.what is the probability that all will pass inspection?c.what is the probability that exactly two will not pass inspection?d.what is the probability that more than three will not pass inspection?e.what is the probability that fewer than two will not pass inspection?f.Find the expected number of automobiles not passing inspection.g.Determine the standard deviation for the number of cars not passing inspection.
What will be an ideal response?
In the context of marketing planning, implementation requires:
a. micromanagement strategies. b. anti-competitive strategies. c. centralization of the firm. d. delegating authority to employees.
If the subject matter of a contract turns out to be more valuable than one of the parties believed it would be, that party can rescind the contract.
Answer the following statement true (T) or false (F)
A simulation model uses the mathematical expressions and logical relationships of the
a. real system. b. computer model. c. performance measures. d. estimated inferences.