Answer:
The answer is "The result of the standard deviation of request and a 'z' rating over a certain possibility of operation".
Explanation:
When we have determined 10 units per day for standard deviation with supply, while the period to ordering in 5 days. Its standard 5-day duration is or the equation 17.8, which is multiplied by the z-score, which is the equation 17.9 has as long as per day is selected based, that's why the result of normal volatility of request as well as a 'z' score over a certain possibility of service is correct.
Administrative controls formalize standards, rules, procedures, and control disciplines to ensure that the organization's general and application controls are properly executed and enforced.
Administrative controls are the controls which are a type of hazard control. They are used in order to improve safety within the workplace by putting policies and rules in place which reduces the occupational risk faced by workers by altering the way in which their work is performed.
Administrative controls include implementation of policies, rules, and schedules which support safety as well as the setting of safe operating procedures and standards.
It includes different training criteria, housekeeping duties, and maintenance practices in order to reduce exposure to different hazardous substances and dangerous tasks.
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Answer:
120
Explanation:
Data provided in the question:
Number of workdays in a year = 250
Demand, D = 7,500 units
Ordering costs, F = $25.00 per order
Carrying costs, C = $9.00
Lead time = 4 days
Now,
Reorder point = Lead Time in days × Average Daily Demand
also,
Average Daily Demand = Demand ÷ Number of workdays in a year
= 7500 ÷ 250
= 30
Thus,
Reorder point = 4 × 30
= 120
Answer:
-37.51
Explanation:
Confidence interval = 1 - Probability * 2
= 1 - 0.025*2
= 0.95
= 95%
As per 95% rule
, range = mean +/- 2 * Standard deviation
= 11.57 +/- 2 * 24.54
= 11.57 - 2 * 24.54 to 11.57 + 2 * 24.54
= 11.57 - 49.08 to 11.57 + 49.08
= -37.51 to 60.65
Conclusion: -37.51 is the lower bound hence it is the max one can expect to lose in any given year.
Answer:
The answer to this question is b. Yours will be positive and your roommate's would be negative.
Explanation:
Income elasticity of demand is the degree of responsiveness of demand to changes in income. In other words, it measures how changes in income of consumers will affect the quantity of commodities demanded by such consumers.
An income elasticity of demand can be positive or negative.
It is positive, when an increase in income leads to an increase in the quantity demanded by the customer. However it is referred to as negative when an increase in income leads to decrease in the quantity demanded by the consumer.
In the question above, it can be seen that the increase in income of the first person brought about increase in the commodity demanded thereby making his income elasticity of demand positive. one the other hand, the increase in the income of his roommate, brought about decrease in his demand which translate to the fact that his income elasticity of demand would be negative.
Hence the answer given.