Violet is learning how to use the MATCH function and is testing several different formulas. The chart above shows orders for small robot toys from five different customers. The amount "0" in column A is for a customer who changed his mind. Please answer the questions below using the data in the figure above.
-Violet wants to send any orders for 30 toys or fewer to Warehouse 1 to ship out. To do this, she locates the position in the chart where the greatest value does not exceed 30. The formula is ____.
Definitions:
Monthly Interest Rate
The interest rate applied to a loan or debt for each month, often used to calculate the interest expense on outstanding debt for the month.
Restocking Costs
The expenses associated with replenishing inventory once it has been sold to customers.
EOQ
Economic Order Quantity is a formula used in inventory management to determine the optimal order quantity that minimizes total inventory costs.
Carrying Cost
The total cost of holding inventory, including storage, insurance, and opportunity costs.
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