Consider a basic economic order quantity (EOQ) model with the following characteristics: The optimal Reorder Point, R* is The Pareto principle is best applied to which of the following inventory systems? A) ABC classification B) Fixed-time period C) EOQ D) Fixed-order quantity E) optional replenishment system Using the ABC classification system for inventory, which of the following is a true statement? A) The "C" items are of moderate dollar value B) You should allocate about 15% of the dollar volume to "B" items C) The "A" items are of high dollar value D) The "A" items are of low dollar value E) Inexpensive and low usage items are classified as "C" no matter how critical If it takes a supplier four days to deliver an order once it has been placed and the standard deviation of daily demand is 10, which of the following is the standard deviation of usage during lead time? A) 10 B) 100 C) 40 D) 20 E) 400 Based on the following information, what is the Order Point? Lead Time = 3 Weeks Demand/Week = 2000 Units Safety Stock = 1 Weeks's Supply Lot Size = 100 Units A) 700 B) 400 C) 500 D) 800 In the economic order quantity (EOQ) model, if the holding cost and the ordering cost both double, the value of Q* will: A. decrease by 50%. B double. C remain unchanged D quadruple