The table below reports the total population in a country and the number of people in different groups as below:Total population
1 answer:
The unemployment rate in this population is 12%
First of all we have to find the total labour force in this country
Children less than 18 + people in the military + people in jail + retirees + marginally attached workers + full time students
= 50million + 15million + 30 million + 10 million + 30 million + 20
= 155 million
Labor force = 280million - 155 million
= 125 million
In this population those working full time and part time are the number of those that are employed.
= 30 million + 80 million
= 110 million
The unemployed = 125 million - 110 million
= 15million
The unemployment rate =
= 0.12
The unemployment rate = 12%
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Answer:
The company should order 100 units to minimize total inventory cost.
Explanation:
Given,
Annual Demand, D = 2,000 units
Order cost, S = $20
Purchase cost = $40
Holding cost, H = Purchase cost x percentage of holding cost
Holding cost = $40 × 20%
Holding cost = $8
We know, the company should order the highest number of products with a minimum cost, and for that, the company uses economic order quantity. Hence,
Economic Order Quantity (EOQ) =
EOQ =
EOQ =
EOQ = 100