Determine the optimal Q and TC given the following information:D = 30,000 boxesCh = $2Co$300Discount schedule:Quantity (boxes)Price ($ per box)431 to 9,99910,000 to 14,9994115,000 to 19,9993820,000 or more36Show complete solution.

Given data: Annual demand(D) = 30,000 units Ordering cost(S) = $300 Holding cost(H) = $2

Answered: Determine the optimal Q and TC given…

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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QUESTIONS (Using the same problem) A vendor for the local ballpark food stand is questioning whether to stock his concession with a large or small inventory. He believes that it will depend upon the size of the crowd. He has developed a payoff matrix for the various alternatives (stocking decision) and states of nature (size of crowd). What is the Expected Monetary Value (EMV)? Alternatives Large Inventory Small Inventory Probability OA) $68,400 O B)-$20,000 O C) $10,000 O D) $51,500 O E) $78,400 Large Crowd $220,000 $90,000 .20 PROFIT ($) Average Crowd $50,000 $70,000 .50 Small Crowd -$2,000 -$5,000 .30
QUESTION 12 A vendor for the local ballpark food stand is questioning whether to stock his concession with a large or small inventory. He believes that it will depend upon the size of the crowd. He has developed a payoff matrix for the various alternatives (stocking decision) and states of nature (size of crowd). What is the answer using the criterion of maximin? Alternatives Large Inventory Small Inventory Probability OA) -$2,000 O B) $0 OC) $51,667 OD) $220,000 O E) -$5,000 Large Crowd $220,000 $90,000 .20 PROFIT (S) Average Crowd $50,000 $70,000 1.50 Small Crowd -$2,000 -$5,000 30
4 (Using the same problem) A vendor for the local ballpark food stand is questioning whether to stock his concession with a large or small inventory. He believes that it will depend upon the size of the crowd. He has developed a payoff matrix for the various alternatives (stocking decision) and states of nature (size of crowd). What is the Expected Monetary Value (EMV)? Alternatives Large Inventory Small Inventory Probability A) $68,400 O B)-$20,000 O C) $10,000 O D) $51,500 O E) $78,400 Large Crowd $220,000 $90,000 .20 PROFIT ($) Average Crowd $50,000 $70,000 .50 Small Crowd -$2,000 -$5,000 30

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Determine the optimal Q and TC given the following information: D = 30,000 boxes ● Ch = $2 Co = $300 ● Discount schedule: Price ($ per box) Quantity (boxes) 1 to 9,999 43 10,000 to 14,999 41 15,000 to 19,999 38 20,000 or more 36 Show complete solution.