Using the Simple Order Quantity Model in an Inventory Control

question 74

Multiple Choice

Using the simple order quantity model in an inventory control problem, Kathy calculated the order quantity to be 1,000 units. In a review, she found out that the demand is actually double that of the quantity she had used and the holding cost is only half that of the value she used. The new economic order quantity using the correct data will be

• A) 1,000.
• B) 2,000.
• C) 1,414.
• D) 707.1.
• E) cannot be found without other cost information.

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Definitions:

Jackson's Perspective

likely refers to views or policies associated with Andrew Jackson, the seventh President of the United States, including his support for the common man, opposition to the national bank, and policies leading to the Trail of Tears.

Indian Issues

Concerns and legal matters related to the indigenous peoples of the Americas, often involving land rights, cultural preservation, and political recognition.

President

The president is the head of state and government in a republic, exercising executive authority and often serving as the commander-in-chief of the armed forces.

Cherokee

A Native American people originally from the southeastern United States, forced to relocate to Oklahoma via the Trail of Tears during the 1830s.