The Demand for Refrigerators at an Appliance Store Adheres to the Following

question 6

Essay

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?

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Definitions:

American Indian Family

The family unit and social structures within Native American communities, which may include extended family and tribal affiliations.

Treating People Unfairly

Acting in a biased or discriminatory manner towards individuals, denying them equal treatment or opportunities.

Prejudice

A preconceived opinion or judgment without grounding in actual experience or knowledge, often involving negative attitudes toward a particular group.

Discrimination

Unfair or prejudicial treatment of individuals or groups based on characteristics such as race, gender, age, or sexual orientation.