Mathematics
Single Period and Multi Period Model Questions

Question Description

I’m trying to learn for my Mathematics class and I’m stuck. Can you help?

I need each questions 1,2,3 and all parts under them (a,b,c) to be complete in detail in a word/excel. All instructions are in the attached document.

Thanks

Unformatted Attachment Preview

Technical Questions: Single-Period Model 1. The local supermarket buys lettuce each day to ensure really fresh produce. Each morning, any lettuce that is left from the previous day is sold to a dealer that resells it to farmers who use it to feed their animals. This week, the supermarket can buy fresh lettuce for $11.00 a box. The lettuce is sold for $24.00 a box and the dealer that sells old lettuce is willing to pay $3.00 a box. Past history says that tomorrow's demand for lettuce averages 275 boxes with a standard deviation of 45 boxes. a. How many boxes of lettuce should the supermarket purchase tomorrow? (Use Excel's NORM.S.INV() function or z-table to find the z value. Round your answer to the nearest whole number) (20 points). Multi-period Model- Fixed-Time Period Model (P-model) 2. Dunstreet's Department Store would like to develop an inventory ordering policy with a 99 percent probability of not stocking out. To illustrate your recommended procedure, use as an example the ordering policy for white percale sheets. Demand for white percale sheets is 4,300 per year. The store is open 365 days per year. Every four weeks (28 days) inventory is counted and a new order is placed. It takes 12 days for the sheets to be delivered. Standard deviation of demand for the sheets is eight per day. There are currently 160 sheets on-hand. a. How many sheets should you order? (Use Excel's NORM.S.INV() function or z-table to find the z value. Do not round intermediate calculations. Round z value to 2 decimal places and final answer to the nearest whole number) (20 points) Multi-period Model- Fixed-Order Quantity Model (Q-model) 3. Item X is a standard item stocked in a company's inventory of component parts. Each year the firm, on a random basis, uses about 2,700 of item X, which costs $25 each. Storage costs, which include insurance and cost of capital, amount to $9 per unit of average inventory. Every time an order is placed for more of item X, it costs $6. a. Whenever item X is ordered, what should the order size be? (Round your answer to the nearest whole number) (20 points). b. What is the annual cost for ordering item X? (Round your answer to 2 decimal places. Round your intermediate calculation) (20 points). c. What is the annual cost for storing item X? (Round your answer to 2 decimal places. Round your intermediate calculation) (20 points). ...
Purchase answer to see full attachment
Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

Final Answer

This is done - let me know if this works for you -- all the calcs are in excel with explanations in words to the side. Final answers are bolded and in blue.

Cost per unit
Revenue per unit
Salvage per unit

$11.00
$24.00
$3...

Sara_777 (1091)
Carnegie Mellon University

Anonymous
The tutor was pretty knowledgeable, efficient and polite. Great service!

Anonymous
Heard about Studypool for a while and finally tried it. Glad I did caus this was really helpful.

Anonymous
Just what I needed… fantastic!

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4