Author: Anonymous

A souvenir store sells New Year’s Eve sweatshirts with the year and a slogan printed on them for $25 each. The sweatshirts cost $[c] each to purchase from their supplier. Demand for the sweatshirts is normally distributed with a mean of [mu] and a standard deviation of 40. The week after New Year’s, unsold shirts are donated free to a local Goodwill store. The souvenir store receives a tax refund (credit) of $[s] for every sweatshirt that it donates. What is the overage cost?

Which of the following is TRUE regarding evaluating the quality of a forecast?

A souvenir store sells New Year’s Eve sweatshirts with the year and a slogan printed on them for $25 each. The sweatshirts cost $12 each to purchase from their supplier. Demand for the sweatshirts is normally distributed with a mean of 250 and a standard deviation of 40. The week after New Year’s, unsold shirts are donated free to a local Goodwill store. The souvenir store receives a tax refund (credit) of $5 for every sweatshirt that it donates. What is the critical ratio?

The time between two ordering opportunities for an order-up-to product is called a __________ and it has a __________ duration.

A pottery shop makes hand-made pottery vases using the three-step sequential process shown below. There is a single employee at each step. Step Processing Time per Vase Throw and shape the vase 20 minutes Glaze/paint 25 minutes Hand decorate [time] minutes Assume demand is unlimited. If each employee is paid $[pay] per hour, what is the cost of direct labor associated with producing one vase?

Which of the following is the way inventory position is calculated?

Which concept from class is most closely related to what Joe Heisser from Kimberly-Clark spoke about regarding Huggies Wipes?

A 3D printer is used to make 3 different colors of novelty holiday ornaments. The printer must be set up and adjusted for each color. Setup time is [su] minutes and production time is [p] minutes per ornament. Hourly demand for the ornaments is as follows follow: Red Blue Green 1 1.5 [d] What is the optimal total production cycle quantity to minimize inventory while satisfying demand?

A souvenir store sells New Year’s Eve sweatshirts with the year and a slogan printed on them. Demand for the sweatshirts is normally distributed with a mean of 200 and a standard deviation of 35. What is the minimum number of sweatshirts to be ordered to achieve a 90% in-stock probability?

In Littlefield Labs, revenue per job is directly affected by which of the following factors?