Which career requires less education than an Auditor?
A) Accountant
B) Bookkeeper
C) Credit Analyst
D) Financial Manager
Answer:
this is a cost minimization problem, but it is missing some numbers, so I looked for similar questions (see attached PDF):
minimization equation = 20x₁ + 22x₂ + 18x₃ (costs per ton)
where:
x₁ = mine I
x₂ = mine II
x₃ = mine III
the constraints are:
4x₁ + 6x₂ + x₃ ≥ 54 (high grade ore)
4x₁ + 4x₂ + 6x₃ ≥ 65 (low grade ore)
x₁, x₂, x₃ ≤ 7 (only 7 days per week)
using solver, the optimal solution is
2x₁, 7x₂, and 5x₃
a. The number of days Mine I should operate = <u>2 days
</u>
b. The number of days Mine Il should operate = <u>7 days
</u>
c. The number of days Mine III should operate = <u>5 days
</u>
d. The total cost of the operation for next week = <u>$284,000</u>
record book .................................................... .
Answer: 75%
Explanation:
The probability that demand is less than or equal to the stocking level will be calculated thus:
Underage Cost (Cu) will be given as:
= 3 × Overage Cost(Co) = 3Co
Critical Ratio for seller is given as:
= Cu/(Co+Cu)
= 3Co/(Co + 3Co)
= 3Co / 4Co
= 75%
= 0.75
Therefore, the answer is 75%.
