Pottery House orders finished goods for the business quite frequently. The business generally orders 6,500 serving sets a year at $40 per set. Carrying costs are 20% of inventory and it costs $30 to place and receive an order. How many orders should Pottery House place per year and what should the size of each order be?
A) 255 sets; 25X per year
B) 221 sets; 29X per year
C) 93 sets; 70X per year
D) 156 sets; 42X per year
B
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Indicate whether the statement is true or false
Regarding the profit margin ratio, which of the following statements is incorrect?
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A simple random sample of 144 items resulted in a sample mean of 1257.85 and a standard deviation of 480. Develop a 95% confidence interval for the population mean.
What will be an ideal response?
The two important by-products of the reverse logistics process are:
A) satisfied customers and money. B) product information and money. C) money and waste. D) waste and product information.