High Plains Inc. manufacturers furniture in North Dakota. High Plains receives its wood from a lumber yard in Calgary. The lead time for orders is 3 weeks. One of their board costs $10 per unit and the holding cost for this board is $0.5 per week. They manage their inventory to achieve a 99 percent in-stock probability. Weekly demand is for 150 boards with a standard deviation of 200. Use Table 11.5 a. How many boards do they have on on order on average? 450 b b.How many boards do they have on hand on average? c. For this board what is the total holding cost incurred per week? (Round your answer to 2 decimal places.)

High Plains Inc. manufacturers furniture in North Dakota. High Plains receives its wood from a lumber yard in Calgary. The lead time for orders is 3 weeks. One of their board costs $10 per unit and the holding cost for this board is $0.5 per week. They manage their inventory to achieve a 99 percent in-stock probability. Weekly demand is for 150 boards with a standard deviation of 200. Use Table 11.5 a. How many boards do they have on on order on average? 450 b b.How many boards do they have on hand on average? c. For this board what is the total holding cost incurred per week? (Round your answer to 2 decimal places.)

Name: Any help would be helpful. TABLE 11.5 In-Stock Probabilities and Match
Uploaded: 2024-03-20T07:07:37.000Z
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Description: Any help would be helpful. TABLE 11.5 In-Stock Probabilities and Matching Safety Factors, zIn-Stock ProbabilitySafety Factor, zSafety Factor, zIn-Stock Probability0.90001.281.250.89440.98002.052.000.97730.99002.332.250.98780.99502.582.500.99380.99993

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Any help would be helpful.

TABLE 11.5 In-Stock Probabilities and Matching Safety Factors, z
In-Stock Probability
Safety Factor, z
Safety Factor, z
In-Stock Probability
0.9000
1.28
1.25
0.8944
0.9800
2.05
2.00
0.9773
0.9900
2.33
2.25
0.9878
0.9950
2.58
2.50
0.9938
0.9999
3.72
3.00
0.9987

PA 11-8 (Algo) High Plains Inc. manufacturers furniture in North Dakota. High
Plains...
High Plains Inc. manufacturers furniture in North Dakota. High Plains receives its wood from a lumber yard
in Calgary. The lead time for orders is 3 weeks. One of their board costs $10 per unit and the holding cost
for this board is $0.5 per week. They manage their inventory to achieve a 99 percent in-stock probability.
Weekly demand is for 150 boards with a standard deviation of 200. Use Table 11.5
a. How many boards do they have on on order on average?
450 b
b.How many boards do they have on hand on average?
c. For this board what is the total holding cost incurred per week?
(Round your answer to 2 decimal places.)
d.What is the holding cost they incur per board?

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