Using the Fixed-Time-Period Inventory Model, and Given an Average Daily

question 75

Multiple Choice

Using the fixed-time-period inventory model, and given an average daily demand of 75 units, 10 days between inventory reviews, 2 days for lead time, 50 units of inventory on hand, a service probability of 95 percent, and a standard deviation of demand over the review and lead time of 8 units, which of the following is the order quantity?

• A) 863
• B) 948
• C) 1,044
• D) 1,178
• E) 4,510

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Definitions:

Tuna Fish

A saltwater fish that is widely regarded as a valuable food source and commercial fishing target.

Robber's Cave Study

An experiment on intergroup conflict and cooperation conducted by Muzafer Sherif, illustrating how competition can lead to hostility and how cooperative goals can reduce intergroup conflict.

Prejudice

A preconceived opinion or bias against an individual or group without sufficient knowledge, reason, or experience.

Stereotypes

Preconceived and oversimplified ideas or images about certain groups of people, often based on race, gender, or other characteristics, that may lead to biased judgments.