Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Chapter 10.4, Problem 15P
Summary Introduction
To explain: The reason for the given conditions.
Simulation modeling is a computerized model that depicts a real-life situation. It is similar to other mathematical models except that it incorporates the concept of uncertainty in one or more number of the input variables.
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[item no. 9] In marginal analysis with discrete distributions for single-period inventory models, the value of ML/(ML+MP) is 0.8. The probability distribution of sales is given by the following by the table below. Find the optimal number of units to order.
Daily demand
80
90
100
110
120
Probability that demand will be at this level
0.10
0.20
0.30
0.30
0.10
a. 90 units
b. 110 units
c. 100 units
d. 80 units
A manufacturer of exercise equipment purchases the pulley section of the equipment from a supplier who lists these prices:
Less than 1000 $5.00 each
1000 to 3999 $4.95 each
4000 to 5999 $4.90 each
6000 or more $4.85 each
Ordering costs are $50, annual carrying costs per unit are 40 percent of purchase cost, and annual usage is 4900 pulleys. Determine the order quantity that will minimize total cost.
a school consumes liquid detergent annually. see related info, below:
D = 408 gallons per year
S = $20
H = $15 per gallon
range
price
1 to 179
$40
180 to 249
37.25
250 or more
37.19
A. initial EOQ (common minimum) is _____ (round up)
B. total cost (at initial EOQ) is ___ (2 decimals)
C. overall optimal order quantity is ___
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Chapter 10 Solutions
Practical Management Science
Ch. 10.2 - Use the RAND function and the Copy command to...Ch. 10.2 - Use Excels functions (not @RISK) to generate 1000...Ch. 10.2 - Use @RISK to draw a uniform distribution from 400...Ch. 10.2 - Use @RISK to draw a normal distribution with mean...Ch. 10.2 - Use @RISK to draw a triangular distribution with...Ch. 10.2 - Use @RISK to draw a binomial distribution that...Ch. 10.2 - Use @RISK to draw a triangular distribution with...Ch. 10.2 - We all hate to keep track of small change. By...Ch. 10.4 - Prob. 11PCh. 10.4 - In August of the current year, a car dealer is...
Ch. 10.4 - Prob. 13PCh. 10.4 - Prob. 14PCh. 10.4 - Prob. 15PCh. 10.5 - If you add several normally distributed random...Ch. 10.5 - In Problem 11 from the previous section, we stated...Ch. 10.5 - Continuing the previous problem, assume, as in...Ch. 10.5 - In Problem 12 of the previous section, suppose...Ch. 10.5 - Use @RISK to analyze the sweatshirt situation in...Ch. 10.5 - Although the normal distribution is a reasonable...Ch. 10.6 - When you use @RISKs correlation feature to...Ch. 10.6 - Prob. 24PCh. 10.6 - Prob. 25PCh. 10.6 - Prob. 28PCh. 10 - Six months before its annual convention, the...Ch. 10 - Prob. 30PCh. 10 - A new edition of a very popular textbook will be...Ch. 10 - Prob. 32PCh. 10 - W. L. Brown, a direct marketer of womens clothing,...Ch. 10 - Assume that all of a companys job applicants must...Ch. 10 - Lemingtons is trying to determine how many Jean...Ch. 10 - Dilberts Department Store is trying to determine...Ch. 10 - It is surprising (but true) that if 23 people are...Ch. 10 - Prob. 40PCh. 10 - At the beginning of each week, a machine is in one...Ch. 10 - Simulation can be used to illustrate a number of...Ch. 10 - Prob. 43PCh. 10 - Prob. 46PCh. 10 - If you want to replicate the results of a...Ch. 10 - Suppose you simulate a gambling situation where...Ch. 10 - Prob. 49PCh. 10 - Big Hit Video must determine how many copies of a...Ch. 10 - Prob. 51PCh. 10 - Prob. 52PCh. 10 - Why is the RISKCORRMAT function necessary? How...Ch. 10 - Consider the claim that normally distributed...Ch. 10 - Prob. 55PCh. 10 - When you use a RISKSIMTABLE function for a...Ch. 10 - Consider a situation where there is a cost that is...
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