A grocery store orders frozen pies in batches from a bakery and sells them in the grocery store. Storing one frozen pie for a year costs $1.05. When the grocery store reorders pies, there is a fixed cost of $0.75 per order as well as $0.25 per pie. Each year, they sell 2500 frozen pies. What is the optimal number of pies to order in each order to minimize their total inventory costs.

A grocery store orders frozen pies in batches from a bakery and sells them in the grocery store. Storing one frozen pie for a year costs $1.05. When the grocery store reorders pies, there is a fixed cost of $0.75 per order as well as $0.25 per pie. Each year, they sell 2500 frozen pies. What is the optimal number of pies to order in each order to minimize their total inventory costs.

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

If possible, please circle the answer so that I can understand. If you write by hand, write clearly so that I can read it. I appreciate that you understand.

A grocery store orders frozen pies in batches from a bakery and sells them in the grocery store. Storing one
frozen pie for a year costs $1.05. When the grocery store reorders pies, there is a fixed cost of $0.75 per
order as well as $0.25 per pie. Each year, they sell 2500 frozen pies.
What is the optimal number of pies to order in each order to minimize their total inventory costs.

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