Of 120 Clock Radios Sold Recently in a Department Store

question 103

Essay

Of 120 clock radios sold recently in a department store, 110 had FM circuitry, and 100 had AM circuitry.
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How many radios had both FM and AM circuitry? __________
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How many could receive FM transmission only? __________
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How many could receive AM transmission only? __________

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Definitions:

Lost Profits

The potential earnings that were not realized due to unforeseen circumstances, disruptions in business, or decisions that led to lost sales opportunities.

Planning Horizon

The future time period for which plans, strategies, and decisions are made, varying in length depending on the goals and nature of the planning.

Forecasting Errors

Discrepancies between predicted and actual demand, often leading to inventory mismanagement.

Safety Capacity

The extra capacity created within a system to accommodate unexpected demand or to compensate for potential system failures.