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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..

1.)
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

2.)
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.

Solution provided by:
Elisa Valdez, PhD
Education
  • Bachelor of Science in Business Administration, University of the Philippines
  • Master in Business Administration, Saint Mary's University
  • Doctor of Philosophy in Education, University of the Philippines
  • Doctor in Business Adminstration (IP), Polytechnic University of the Philippines
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