Question: Explain why it is necessary to include product cost (price or price times quantity) in the quantity discount model, but not in the basic EOQ

  1. Explain why it is necessary to include product cost (price or price times quantity) in the quantity discount model, but not in the basic EOQ model.
  2. What is safety stock?
  3. What is the use of Gantt charts in project management?
  4. What is the expected value with perfect information (EVwPI)?
  5. Why is the maximax strategy considered to be a strategy of an optimist?
  6. Why is the maximin strategy considered to be a strategy of a pessimist?

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