A Flower Shop Is Trying to Determine the Optimal Order

question 185

Essay

A flower shop is trying to determine the optimal order quantity of the wicker baskets that it places many of its arrangements in.The store thinks it will sell 2000 of these baskets over the next year.The baskets cost the shop $2.00 each.The carrying cost of the baskets is $0.15 each per year.It costs the shop $8.00 to order.
a.What is the economic order quantity?
b.What is the total cost for ordering the baskets once a year? Four times a year?

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Definitions:

Negative Value

A numerical value less than zero, representing the opposite of positive values.

Exception Class

A type of class in object-oriented programming that describes an error or unexpected event that can occur during the execution of a program.

Class Throwable

The superclass of all errors and exceptions in the Java language, from which all exception classes are derived.

Superclass

The parent class from which a subclass inherits properties and methods in object-oriented programming.