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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The items have a standard cost of $81/unit. The monthly demand for items is normally distributed with a mean of 220 and a standard deviation of 40. The annual holding rate is 23% and the ordering cost is $200/order. it takes 3 weeks to receive the ordered items from the supplier. (4 weeks in a month, 12 months in a year, 48 weeks per year) You have been ordering a quantity of 237 units every time the inventory level fall under 195 units. What is the average cycle stock considering your policy?
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