4) Inventory control: Lenhen Vinters imports a certain brand of beer. The demand for beer over a year is 80,000 cases/year. The cost to ordering a shipment of beer is $50, the cost of storing each case of beer for a year is $2.00, and each case of beer costs them $35 to purchase. (Assume the storage cost is based on the average number in storage at any time in the year.) Find the following. a) Give the simplified function that represents the total inventory cost (circle this). Be sure to state what the variable x represents. CLEARLY state the understood domain of the function that you are using. X is Understood Domain is b) How many cases of imported beer should they order in each shipment and how many orders need to be placed over the year to minimize the total inventory cost? Use calculus to solve this problem. You must verify your answer yields a minimum cost based on your domain. SHOW all work and put your answers in the spaces provided. Number of cases per shipment Number of shipments per year The minimum total inventory cost is Verification test and explain the results clearly
4) Inventory control: Lenhen Vinters imports a certain brand of beer. The demand for beer over a year is 80,000 cases/year. The cost to ordering a shipment of beer is $50, the cost of storing each case of beer for a year is $2.00, and each case of beer costs them $35 to purchase. (Assume the storage cost is based on the average number in storage at any time in the year.) Find the following. a) Give the simplified function that represents the total inventory cost (circle this). Be sure to state what the variable x represents. CLEARLY state the understood domain of the function that you are using. X is Understood Domain is b) How many cases of imported beer should they order in each shipment and how many orders need to be placed over the year to minimize the total inventory cost? Use calculus to solve this problem. You must verify your answer yields a minimum cost based on your domain. SHOW all work and put your answers in the spaces provided. Number of cases per shipment Number of shipments per year The minimum total inventory cost is Verification test and explain the results clearly
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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Transcribed Image Text:4) Inventory control: Lenhen Vinters imports a certain brand of beer. The demand for beer over a year is
80,000 cases/year. The cost to ordering a shipment of beer is $50, the cost of storing each case of beer
for a year is $2.00, and each case of beer costs them $35 to purchase. (Assume the storage cost is
based on the average number in storage at any time in the year.)
Find the following.
a) Give the simplified function that represents the total inventory cost (circle this). Be sure to state what
the variable x represents. CLEARLY state the understood domain of the function that you are using.
X is
Understood
Domain is
b) How many cases of imported beer should they order in each shipment and how many orders need to
be placed over the year to minimize the total inventory cost? Use calculus to solve this problem. You
must verify your answer yields a minimum cost based on your domain. SHOW all work and put your
answers in the spaces provided.
Number of cases per shipment
Number of shipments per year
The minimum total inventory cost is
Verification test and explain the results clearly
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