Question: need answer for 3 and 4 pls Question 3 Not yet answered Points out of 3.00 Flag question Identify the appropriate inventory model to obtain

need answer for 3 and 4 pls need answer for 3 and 4 pls Question 3 Not yet
Question 3 Not yet answered Points out of 3.00 Flag question Identify the appropriate inventory model to obtain the optimal lot size for the given problem description: A small grocery store sels fresh produce, which it obtains from a local farmer. During the strawberry season, demand for fresh strawberries can be reasonably approximated using a normal distribution with a mean of 40 quarts per day and a standard deviation of 6 quarts per day. The grocer purchases fresh strawberries daily from the local farmer for $1.5 per quart and sells them for $3.20 per quart. At the end of each business day, any remaining strawberries are sold to a producer of fresh juice for 50 cents. Select one: O a Fixed Order Interval O b. None of the listed O c. EOQ O d. Single Period Question 4 Not yet answered Points out of 3.00 Jack's Packs manufactures backpacks made from micro fabrics. The cutting department prepares the material for use by the backpack stitching department. The cutting department can cut enough material to make 200 backpacks per day. The backpack stitching department produces 120 backpacks per day. Annual demand for the product is 30,000 units. The company operatos 250 days per year. Estimated setup cost is $75. Annual holding cost is $5 per backpack. Calculate the economic production quantity for the cutting department (Round to the nearest integer if necessary. P Flag

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!