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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?
Exemplification
A communication strategy where individuals present themselves as a model of desirable behaviors or attitudes.
Ingratiation
A psychological technique where an individual tries to make themselves more likable to another, often by flattery or other means of winning favor.
Self-Distinctiveness
The tendency of individuals to perceive themselves as uniquely different from others in various aspects.
Individualist Cultures
Cultures that emphasize the importance of individual achievements and rights over group goals and cohesion.
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