The demand for refrigerators at an appliance store adheres to the following probability distribution:
The store orders 4 refrigerators per day to have in stock to meet demand.They are trying to maintain low inventory levels.The holding cost is $5/unit/day.The ordering cost is $20 per order.The lost sale cost is $10/unit.A simulation is to be developed to estimate the average daily inventory cost over 5 days.The table below shows the random numbers to be used for refrigerator demand and lead time on orders:
Assuming that beginning inventory is equal to 5 with no prior orders in transit, what is the overall average daily cost of inventory for the 5 days?
Definitions:
Intelligence Instrument
A tool or test designed to measure cognitive abilities, including reasoning, problem-solving, and understanding complex ideas.
Theory of Intelligence
A conceptual framework that seeks to understand the nature, components, development, and measurement of human intelligence.
School Ability Tests
Group intelligence tests administered in a school setting.
Cognitive Abilities Test
A standardized assessment used to measure an individual's mental capabilities in areas such as problem-solving, memory, and reasoning.
Q4: All of the following factors affect assimilation
Q17: Ethnic identities combined with networks with co-ethnics
Q24: If the sale of ice cream and
Q24: In a tree diagram, the numbers associated
Q27: A company has been receiving complaints about
Q36: Markov analysis is a technique that deals
Q52: Goal programming permits multiple objectives to be
Q68: The copy machine in an office is
Q97: Colonel Motors (an automobile company)has prepared a
Q115: Your company is considering submitting a bid