The following exercises are required and cover topics in this week's required reading. Review the instructions carefully before completing and submitting the exercises.
Complete Exercises 11.1 and 11.6 on pages 285 and 288 in Quantitative Methods in Health Care Management. Use this template for your calculations and answers:
• Excel template for Exercises 11.1 and 11.6
Note on using the Excel templates: Use the automated Excel tables in Sheets 1 and 3 to perform calculations, and Sheets 2 and 4 to record your answers. For an explanation of the automated Excel tables, refer to Quantitative Methods, pp. 281-284. Save the template to your desktop before using. Make sure macros are enabled.
Any existing numbers in green cells in the automated tables are for examples, and show where you should enter the data. You must delete or overwrite these numbers to perform the calculations. The yellow cells of templates are protected to prevent users from accidentally deleting or overwriting the formulas. There is no need to unprotect the templates.
The solution gives detailed steps on solving 2 questions using excel: first to calculate economic order quantity and length of an order cycle and so on; second to perform basic EOQ analysis for each item and so on.