Huckaby Motor Services,Inc

question 44

Essay

Huckaby Motor Services,Inc.rebuilds small electrical items such as motors,alternators,and transformers,all using a certain type of copper wire.The firm's demand for this wire is approximately normal,averaging 20 spools per week,with a standard deviation of 6 spools per week.Cost per spool is $24;ordering costs are $25 per order;inventory handling cost is $4.00 per spool per year.Acquisition lead time is four weeks.The company works 50,5-day weeks per year.
a.What is the optimal size of an order,if minimization of inventory system cost is the objective?
b.What are the safety stock and reorder point if the desired service level is 90%?

Identify and differentiate between types of nonsampling errors and their impacts on research.

Understand the scope and scale of big data, including its attributes or dimensions.

Calculate mean and variance for a given data set and understand the concept of sampling without replacement.

Understand the application of the Central Limit Theorem in approximating sampling distributions.

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Definitions:

Correcting

The act of identifying and rectifying errors or faults.

Organizational Citizenship

Behaviors by employees that are not part of their formal job requirements but help to enhance organizational functioning.

Cooperation

The act of working together towards a common goal, often involving the pooling of resources or effort.

Helpfulness

The quality of providing useful assistance or support to others, often contributing positively to a goal or task.