2 Statistics questions - Network analysis and Eoq

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Question description

Network analysis and economic order quantity

Homework 2 Problems – Chapters 14 and 15 Problem 1 (20 points): Use the following network answer the following questions: F, 3 B, 6 A, 4 C, 3 E, 5 D, 6 H, 6 G, 4 a(4). Find the critical path and the project completion time. b(6). Make a table of ES, EF, LS, and LF for each activity. c(3). Calculate the slack for activity D. d(7). The entrepreneur is considering reducing the time for completion of the project. He can hire an additional worker to help reduce the times required for activities B, C, F, and G; by one day each only. (i) Which activity should the additional worker perform to reduce the project completion time by one day? (ii) Which activities should the worker perform to reduce the project completion time by two days? Please provide complete logic for your activity selection for full credit. Problem 2 (20 points): Each year, the Super Fresh Grocery Store purchases 25,000 units of an item that costs \$40 per unit. The cost of placing an order is \$80 and the cost to hold the item for one year is 10 percent of the unit cost. Number of working days per year = 250 days. a(4). Determine the economic order quantity for the item. b(3). What is the average inventory level? c(3). What is the time (in working days) between orders? d(4). What is the total annual ordering and carrying cost? e(6). What is the effect on EOQ and the total annual ordering and carrying cost if next year the Super Fresh Grocery Store purchases additional (extra) 5000 units and the ordering cost is reduced from \$80 to \$24 per order?
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