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

question 47

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 standard deviation obtained from the simulation results?

• A)35.01
• B)49.01
• C)56.01
• D)41.01

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Definitions:

Fish

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Increasing Returns to Scale

A situation in production where an increase in the quantity of inputs leads to a proportionally larger increase in output.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors.

Geegaws

Decorative trinkets or gadgets that are often considered unnecessary or superficial.