Question: Explain what is meant by the expression robust model. Specifically, what would you tell a manager who exclaimed, Uh-oh, were in trouble! The calculated EOQ

Explain what is meant by the expression “robust model.”

Specifically, what would you tell a manager who exclaimed,

“Uh-oh, we’re in trouble! The calculated EOQ is wrong;

actual demand is 10% greater than estimated.”

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