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Citrus2011 [14]
1 year ago
15

Weekly demand for a particular item averages 30 units, with a standard deviation of 4. This item is managed with a fixed-order-i

nterval model. The order interval is three weeks, and this item has a certain lead time of one week. The desired service level is 97.5 percent. Assume that it is now time to place another order, and there are 43 units on hand. How many units should be ordered?
A. 63
B. 93
B. 83
D.None of the above
Mathematics
1 answer:
aivan3 [116]1 year ago
4 0

Answer:

(B)93

Explanation:

Since we are using a fixed-order-interval model,

The Amount to Order=Expected Demand During protection Interval+Safety Stock-Amount at Hand

=d(OI+LT)+z\sigma_{d}\sqrt{OI+LT}-A

Where:  

d=weekly demand

OI=Order Interval

LT=Lead Time

z=Standard Deviation of Desired Service Level

\sigma_{d}=Standard Deviation of weekly Demand

A= Amount at Hand

=d(OI+LT)+z\sigma_{d}\sqrt{OI+LT}-A

[30(3 + 1)] + [1.964*4*\sqrt{3 + 1} - 43

= 120 + 15.712 - 43 = 92.7

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A paint manufacturer made a modification to a paint to speed up its drying time. Independent simple random samples of 11 cans of
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This question is incomplete. I got the complete part (the boldened part) of it from google as:

The following 98% confidence interval was obtained for μ1 - μ2, the difference between the mean drying time for paint cans of type A and the mean drying time for paint cans of type B:

4.90 hrs < μ1 - μ2 < 17.50 hrs.

Answer:

A paint manufacturer made a modification to a paint to speed up its drying time. Independent simple random samples of 11 cans of type A​ (the original​ paint) and 9 cans of type B​ (the modified​ paint) were selected and applied to similar surfaces. The drying​ times, in​ hours, were recorded. The summary statistics are as follows. Type A Type B x 1x1equals=76.3 hr x 2x2equals=65.1 hr s 1s1equals=4.5 hr s 2s2equals=5.1 hr n 1n1equals=11 n 2n2equals=9 The following​ 98% confidence interval was obtained for mu 1μ1minus−mu 2μ2​, the difference between the mean drying time for paint cans of type A and the mean drying time for paint cans of type B. What does the confidence interval suggest about the population​ means?

The mean difference for the 98% confidence interval, the drying times of the two types of paints are (4.90, 17.50). This implies that Type A paint takes between 4.90 and 17.50 hours more to dry than type B paint.

Step-by-step explanation:

The mean difference for the 98% confidence interval, the drying times of the two types of paints are (4.90, 17.50). This implies that Type A paint takes between 4.90 and 17.50 hours more to dry than type B paint.

Only positive values comprise the confidence interval which suggests that the mean drying time for paint type A is greater than the mean drying time for paint type B. The modification appears to be effective in reducing drying times.

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1 year ago
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