Question: 6. In the basic EOQ model, if annual demand is 50 , carrying cost is $2, and ordering cost is $15, EOQ is approximately: A.

6. In the basic EOQ model, if annual demand is 50 , carrying cost is $2, and ordering cost is $15, EOQ is approximately: A. 11 B. 20 C. 24 D. 28 E. 375 7. With an A-B-C system, an item that had a high demand but a low annual dollar volume would probably be classified as: A. A B. B C. C D. none of these 8. If average demand for an inventory item is 200 units per day, lead time is three days, the reorder point is: A. 100 units B. 200 units C. 300 units D. 600 units E. 700 units 9. A plot below the lower control limit on the range chart: (I) should be ignored since lower variation is desirable (II) may be an indication that process variation has decreased (III) should be investigated for assignable cause A. I and II B. I and III C. II and III D. II only E. I, II, and III 10. The term sensitivity analysis is most closely associated with: A. maximax B. maximin C. decision-making under risk D. minimax regret E. Laplace criterion

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