Using the Fixed-Time-Period Inventory Model, and Given an Average Daily

question 38

Multiple Choice

Using the fixed-time-period inventory model, and given an average daily demand of 15 units, 3 days between inventory reviews, 1 day for lead time, 30 units of inventory on hand, a service probability of 98 percent, and a standard deviation of daily demand is 3 units, which of the following is the order quantity?

• A) About 30.4
• B) About 36.3
• C) About 42.3
• D) About 56.8
• E) About 59.8

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Definitions:

Nature's Way

The natural processes or actions typically observed in the environment and life forms, often implying a harmonious balance.

Monozygotic Twins

Twins that develop from one zygote, which splits and forms two embryos, sharing identical genetic material.

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Quantitative measures assessing cognitive abilities and potential, typically obtained through standardized testing.

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The effects that the genetic makeup of an individual has on their traits and behaviors.