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    Business Statistics in Excel for Annual Demand

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    Problem:Business Statistics. Please use Excel. Answer questions 3 and 4. The answer for questions 1 and 2 have been provided to answer 3 and 4..

    Annual demand 15000 Uncontrollable input
    Unit cost $80.00 Parameter
    Carrying cost rate 18% Parameter
    Order cost $220.00 Parameter
    Order quantity 677.0031866 Decision variable

    Annual ordering cost = Annual Demand*Order cost/Order quantity
    Annual holding cost = Carrying cost rate*Unit cost*Order quantity/2
    Total annual cost = Annual ordering cost + annual holding cost

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    Solution Summary

    The expert examines business statistics in Excel for annual demand for uncontrollable input.