Purchase Solution

Management Science - Economic Order Quantity

Not what you're looking for?

Ask Custom Question

Details: 1. Which of the following statements are true for f(x) = -3x2 + 2x + 5?
(Chapter 10)

a. f(x) is a concave function
b. f(x) </= 10 is a convex set
c. f(x) >/= 2 is a convex set
d. a and b

2. In the basic EOQ model, if D = 55 per month, S = $10, and H = $7
per unit per month, what is the EOQ? (Chapter 16)

a. 10.5
b. 11.5
c. 12.5
d. 13.5

3. Given that annual demand equals 1000 units, Co = $300 per order
and Cc = $3 per unit, how many days are between orders in the
classical EOQ model?

a. 105
b. 110
c. 115
d. 120

4. If the demand rate and lead time are constant, then the
___________will have a _________ that will be made at specified
time intervals, which is the same as the ____________ under similar
conditions. (Chapter 16)

a. fixed-order / fixed-period model / fixed-quantity model
b. fixed-period model / fixed quantity model / fixed-order
quantity
c. fixed-quantity model / fixed-order quantity / fixed-period
model
d. fixed-period model / fixed-order quantity / fixed quantity
model

5. If the demand rate and lead time are constant, then the fixed-period
model will have a fixed-order quantity that will be made at specified
time intervals, which is the same as the fixed-quantity model under
_________conditions. (Chapter 16)

a. different
b. similar
c. constant
d. all of the above

Purchase this Solution
Solution Preview

1a. It is a concave function (f'x exists and f"x is>0)
<br>2.EOQ = SQRT(2DS/H)
<br> = ...

Solution provided by:
Gaurav Agarwal, MS
Education
  • BE, Bangalore University, India
  • MS, University of Wisconsin-Madison
Recent Feedback
  • "Your explanation to the answers were very helpful."
  • "What does 1 and 0 means in the repair column?"
  • "Went through all of the formulas, excellent work! This really helped me!"
  • "try others as well please"
  • "Thank you, this helped a lot. I was not sure how to plug in those numbers to a formula. This was a great help. Now I have to figure out how to explain cost of capital is used in net present value analysis, and how cost of capital is used in net present value analysis. This stuff gets confusing."
Purchase this Solution
Free BrainMass Quizzes
Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

IPOs

This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)

Lean your Process

This quiz will help you understand the basic concepts of Lean.

Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.

Change and Resistance within Organizations

This quiz intended to help students understand change and resistance in organizations

View More Free Quizzes
Related BrainMass Solutions

  • Economic Order Quantity Technique

    290842 Economic Order Quantity Technique What is the Economic Order Quantity technique and what are the basic assumptions the model formula follows?

  • EOQ - Economic Order Quantity

    648582 EOQ - Economic Order Quantity A wholesale distributor of lenses and frames has been seeking to minimize its inventory costs and is planning to apply the economic order quantity model to its main product, lens blanks.

  • Calculating the EOQ and various inventory costs

    What is the economic order quantity? 6. At the economic order quantity level, how many times will orders be placed? 7. At the economic order quantity level, what is the time between orders? 8.

  • Economic Order Quantity: Minimizing Ordering and Inventory Costs

    You need to provide a recommendation of the optimal order quantity of raw materials to your plant manager. Your objective is to determine the economic order quantity (EOQ).

  • Operation Management Determination

    Regards The expert examines operations management determination. The economic order quantity, minimum total annual cost, optimal numbers of orders per year and optimal time between orders are determined.

  • Inventory Management: quantity of units and orders for EOQ

    Identify the number or orders per year that must be made to take advantage of the economic order quantity. The quantity of units and orders for EOQ for inventory management is examined.

  • Inventory Management and Demand

    Determine the order size for Company A in the given scenario that would minimize total annual cost by using the economic order quantity model, showing all of your work. 2.

  • Microeconomic issues

    The company management seeks to show that every quarter the net income of the business has grown. In order to show this they adopt unethical means/illegal means in the operation and financial reporting.

  • economic order quantity & production lot model

    542413 economic order quantity model and the economic production lot model A variety of criteria and techniques can be used to determine how many units of a product to purchase or produce and what parameters to set for inventory management.

  • Inventory Management - Ordering and Inventory

    Economic ordering quantity 2. Number of orders. 3. The average inventory 4. Total cost of inventory

View More Related Solutions