Scenario 9.9 "Gollee Those Cats Sure Go Through a Lot of Food

question 74

Multiple Choice

Scenario 9.9
"Gollee those cats sure go through a lot of food," Geoff exclaimed as he saw the shopping list pad that had been pre-printed with the words "cat food" at the top. He pondered a different approach to shopping for the furry little darlings, reviewed his shopping records, and discovered the following. The price of cat food has held steady at 89 cents per can. Despite feigning indifference, each of the seven cats nibbles their way through an average of one can per day, three hundred sixty five days a year. The price of gasoline has held constant at $3.50 per gallon and his pickup uses a gallon each way to the cat food store. The cost to hold a can of cat food is 10% of the unit price.
-Use the information in Scenario 9.9 to determine the amount of time in-between trips to the cat food store if Geoff wisely elects to follow an EOQ policy for obtaining cat food.

• A) about three months
• B) about three weeks
• C) about six months
• D) about three days

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Definitions:

Golden Rule

A fundamental moral principle that advocates treating others as one would like to be treated oneself, often cited in various ethical, religious, and philosophical contexts.

Interact

The act of communicating or directly working with someone or something to exchange information or produce a response.

Primary Value

The fundamental or intrinsic value of something, not influenced by external factors.

Freedom

The power or right to act, speak, or think as one wants without hindrance or restraint.