Use the Table Below to Answer the Following Question(s)

question 22

Multiple Choice

Use the table below to answer the following question(s) .
Below is the spreadsheet for an economic order quantity model.

Assume that the distribution of demand is normal with a mean of 20,000 and standard deviation of 2,000.
-What is the value of mean obtained from the simulation results?

• A)473.0
• B)520.0
• C)456.0
• D)490.0

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Definitions:

Closed-shop Agreements

Closed-shop agreements are labor contracts requiring employers to hire only union members, typically to ensure worker unity in negotiations and workplace standards, though they are restricted or illegal in some jurisdictions.

Landrum-Griffin Act

A U.S. law aimed at regulating labor unions' internal affairs and their officials, promoting democracy, and safeguarding union members' rights.

Permissive Items

Aspects of labor negotiations where employers are not obligated but are allowed to discuss and agree upon with employees or their representatives.

Collective Bargaining

The process of negotiation between employers and a group of employees aimed at reaching agreements to regulate working conditions.