What Is the Term That Describes the Optimal Number Units

question 98

Multiple Choice

What is the term that describes the optimal number units to order or produce to achieve the optimal trade-off between setup (or order) costs and carrying costs?

• A)total quality management.
• B)flexible manufacturing practices.
• C)just-in-time inventory.
• D)the economic order quantity.

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Definitions:

Sample

A selected subset of a population used in statistical analysis, intended to represent the larger group.

Collection

A group or accumulation of objects or items that are gathered together.

Interest

Interest is the cost of borrowing money, typically expressed as a percentage of the principal, or the income earned on deposited funds.

Study

An investigation or analysis of a subject or area of research to acquire knowledge or establish facts.