A warehouse manager at Mary Beth Marrs Corp. needs to simulate the demand placed on a product that does not fitstandard models. The concept being measured is "demand during lead time," where both lead time and daily demand arevariable. The historical record for this product, along with the cumulative distribution, appear in the table.Demand DuringLead TimeCumulaiveProbabilityProbability1200.010.011400.120.131600.350.481800.200.682000.040.722200.080.802400.201.00The following random numbers have been generated: 9, 78, 40, 41, and 99. (Note: Assume the random number intervalbegins at 01 and ends at 00.)Based on the given probabilty distribution, for the given random number the demand during the lead time is:Random Number978404199DemandThe average demand during the lead time is(enter your response as an integer).The total demand during the lead time based on the five simulations is (enter your response as an integer).

Simulation is a process that is concerned with imitating the parameters of real-life systems and…

Answered: A warehouse manager at Mary Beth Marrs…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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The Instant Paper Clip Office Supply Company sells and delivers office supplies to companies, schools, and agencies within a 50-mile radius of its warehouse. The office supply business is competitive, and the ability to deliver orders promptly is a big factor in getting new customers and maintaining old ones. (Offices typically order not when they run low on supplies, but when they completely run out. As a result, they need their orders immediately.) The manager of the company wants to be certain that enough drivers and vehicles are available to deliver orders promptly and that they have adequate inventory in stock. Therefore, the manager wants to be able to forecast the demand for deliveries during the next month. From the records of previous orders, management has accumulated the following data for the past 10 months: Month Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Orders 145 70 115 85 120 54 82 141 123 94 Compute the…
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A fish restaurant sells fish for 50$ per kg and buys it from the suppliers for 10$ per kg. Fish that were not sold during the day go bad. A manager has estimated that daily demand for fish is normally distributed with a mean of 20kg and a standard deviation of 5 kg. The manager has to decide how much fish to order per day. Find a profit-maximizing order.
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Elsa Corporation, a company that manufactures and markets low-end table computers, asked ourfriend Ms. Market Researcher to create the demand curve for its SD 721 model. She conductedsome market research and gave Elsa the demand curve as well as some additional information:350,000 units of SD 721 will sell at a price of $250.(1) What is the point price elasticity if 500,000 units will sell at a price of $200? (2) What is the point price elasticity if 125,000 units will sell at a price of $305?
Ethan Manufacturing Incorporated produces floor mats for automobiles. The owner, Joseph Ethan, has asked you to assist in estimating maintenance costs. Together, you and Joseph determine that the single best cost driver for maintenance costs is machine hours. These data are from the previous fiscal year for maintenance costs and machine hours: Month Maintenance Costs Machine Hours $ 2,650 1 2 9 10 11 12 2,810 2,960 3,070 3,150 3,120 3,060 2,900 2,670 2,270 2,280 2,500 1,740 1,820 1,900 1,920 1,950 1,930 1,910 1,890 1,750 1,150 1,350 1,640 Required: 1. What is the cost equation for maintenance costs using the high-low method? 2. Calculate the mean absolute percentage error (MAPE) for the cost equation you developed in requirement 1. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the mean absolute percentage error (MAPE) for the cost equation you developed in requirement 1. (Input your final answer as a percentage rounded to 1 decimal…
If it takes a supplier four days to deliver an order once it has been placed and the standard deviation of daily demand is 10, which of the following is the standard deviation of demand during the lead time?
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