Richard’s Convenience Store orders two-liter bottles of root…
Richard’s Convenience Store orders two-liter bottles of root beer on a weekly basis. Weekly demand for root beer is 50 units with a standard deviation of 5 units. The holding cost is $0.50 per bottle per week and a 0.99 in-stock probability is desired. What will be the effect on the average on-hand inventory of root beer if lead time decreases from 3 weeks to 2 weeks?
Read DetailsNot all of the 100 customers who walk into the C&A Retailers…
Not all of the 100 customers who walk into the C&A Retailers per day will make a purchase. About 20% come to browse but not buy, 10% need assistance to complete a purchase, and 5% need assistance but leave without making a purchase. The other 65% purchase something without requiring assistance. C&A Retailers has one greeter (who greets every customer), two assistants (who deal with customers who need assistance), and two cashiers (who serve customers who purchase something). What is the total demand rate per day for the greeter?
Read DetailsHotel manager Basil Fountain and his resourceful assistant,…
Hotel manager Basil Fountain and his resourceful assistant, Casey, run a 26-room hotel in a quaint little town called Poynette. A combination of Mr. Fountain’s friendly attitude and the absence of a respectable inn in the nearby vicinity imply that Mr. Fountain enjoys sufficient demand to fill the hotel at his low fare of $159 per night. Casey notes that some customers will walk into the hotel requesting a room for the night and that they are willing to pay a higher fare of $325 per night. Casey knows that walk-in customer demand varies according to a normal distribution with a mean of 7 and a standard deviation of 2.75. She suggests that some rooms should be held back from the low-fare customers so that they can serve the high-fare customers. To maximize expected profits with Casey’s plan, what is the booking limit that should be set for low-fare customers?
Read DetailsWhat is the concentration of CO32- in a saturated lithium ca…
What is the concentration of CO32- in a saturated lithium carbonate solution in 0.75 M LiCl solution? (Ksp(Li2CO3) = 3.8*10-3) Use the small-x approximation if appropriate. Answer in M. Do not type units. Do not use scientific notation.
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