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Home Q & A Board Science-Related Homework Help Mathematics Statistics and Probability
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Catracho Catracho
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4 years ago Edited: 4 years ago, bio_man
William Beville's computer training school: in Richmond, stocks workbooks with the following characteristics.
Demand D
19,100 units/year
Ordering cost S $24/order
Holding cost H $5/unit/year
a) The EOQ for the workbooks is
(round your response to the nearest whole number).
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bio_manbio_man
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#1
Educator
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Catracho Author
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#2
4 years ago
Quote from: bio_man (4 years ago)
\(EOQ=\sqrt{\frac{2\cdot S\cdot D}{H}}=\sqrt{\frac{2\cdot 19100\cdot 24}{5}}=428.2055\) 428
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Educator
4 years ago
Hi again!

Annual holding costs for the workbooks = (Quantity of items) * (Holding Cost) / 2

The quantity of items should be rounded to the nearest whole number, I didn't do that initially (sorry), so let's make it 428.

( 428 * 5 ) / 2 = 1070 is the correct answer for b)

Anything else, let me know
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