Anvil's Works requires on average 2900 tons of aluminum each week with a standard deviation of...
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Anvil's Works requires on average 2900 tons of aluminum each week with a standard deviation of 1100 tons. The lead time to receive their orders is 12 weeks. The holding cost for 1 ton of aluminum for one week is $9. They operate with a 99% in-stock probability. Use Table 11.5 Answer is complete but not entirely correct. (Round your answer to nearest integer) On average how many tons do they have on order? Ea. 34,800 O toris (Round your answer to nearest integer.) On average how many tons do they have on hand? (Refer above Table 11.5). b. 5.463 O tons (Round your answer to nearest integer.) If their average inventory were 4500 tons, what would be their average holding cost per week? $ 54,000 O per week C. (Round your answer to 2 decimal places.) If their average inventory were 11000 units, what would be their average holding cost per ton of aluminum demanded each week? per $ 45.52 d. ton (Round your answer to 3 decimal places.) Suppose their on-hand inventory is 4875 tons on average. What in-stock probability do they offer to their oustomers? Hint: Use the Excel function =NORM.S.DIST(z, TRUE). Cary at least 3 decimals in your z value 96.333 TABLE 11.5 In-Stock Probabilities and Matching Safety Factors, z In-Stock Probability Safety Factor, z Safety Factor, z In-Stock Probability 0.9000 1.28 1.25 0.8944 0.9800 2.05 2.00 0.9773 0.9900 2.33 2.25 0.9878 0.9950 2.58 2.50 0.9938 0.9999 3.72 3.00 0.9987 Anvil's Works requires on average 2900 tons of aluminum each week with a standard deviation of 1100 tons. The lead time to receive their orders is 12 weeks. The holding cost for 1 ton of aluminum for one week is $9. They operate with a 99% in-stock probability. Use Table 11.5 Answer is complete but not entirely correct. (Round your answer to nearest integer) On average how many tons do they have on order? Ea. 34,800 O toris (Round your answer to nearest integer.) On average how many tons do they have on hand? (Refer above Table 11.5). b. 5.463 O tons (Round your answer to nearest integer.) If their average inventory were 4500 tons, what would be their average holding cost per week? $ 54,000 O per week C. (Round your answer to 2 decimal places.) If their average inventory were 11000 units, what would be their average holding cost per ton of aluminum demanded each week? per $ 45.52 d. ton (Round your answer to 3 decimal places.) Suppose their on-hand inventory is 4875 tons on average. What in-stock probability do they offer to their oustomers? Hint: Use the Excel function =NORM.S.DIST(z, TRUE). Cary at least 3 decimals in your z value 96.333 TABLE 11.5 In-Stock Probabilities and Matching Safety Factors, z In-Stock Probability Safety Factor, z Safety Factor, z In-Stock Probability 0.9000 1.28 1.25 0.8944 0.9800 2.05 2.00 0.9773 0.9900 2.33 2.25 0.9878 0.9950 2.58 2.50 0.9938 0.9999 3.72 3.00 0.9987
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Average weekly demand d 2900 Stdev fo weekly demand s 11... View the full answer
Related Book For
Essentials of Statistics for the Behavioral Sciences
ISBN: 978-1285056340
8th Edition
Authors: Frederick J Gravetter, Larry B. Wallnau
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