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Management Science - Economic Order Quantity

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

Solution Preview

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

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