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Find the optimum number of batches (to the nearest whole number) of an item that should be produced annually (in order to minimize cost) if 270,000 units are to be made, it costs $4 to store a unit for one year, and it costs $340 to set up the factory to produce each batch 42 batches 40 batches 30 batches 28 batches

Find the optimum number of batches (to the nearest whole number) of an item that should be produced annually (in order to minimize cost) if 270,000 units are to be made, it costs $4 to store a unit for one year, and it costs $340 to set up the factory to produce each batch 42 batches 40 batches 30 batches 28 batches

Practical Management Science
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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Find the optimum number of batches (to the nearest whole number) of an item that should be produced annually (in order to minimize cost) if270,000 units are to be made, it costs $4 to store a unit for one year, and it costs $340 to set up the factory to produce each batch 42 batches 40 batches 30 batches 28 batches QUESTION 4
Transcribed Image Text:Find the optimum number of batches (to the nearest whole number) of an item that should be produced annually (in order to minimize cost) if270,000 units are to be made, it costs $4 to store a unit for one year, and it costs $340 to set up the factory to produce each batch 42 batches 40 batches 30 batches 28 batches QUESTION 4
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