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5.3 a) X = 32
s = 9.55
<20 4 .111
20-27 8 .222
28-33 9 .250
34-37 4 .111
38-43 6 .167
>43 5 .139
Total 36 1.000
X = 19 .0869 .1111
19 < X = 27 .2146 .2222
27 < X = 33 .2383 .2500
33 < X = 37 .1587 .1111
37 < X = 43 .1764 .1670
43 < X .1251 .1380
Clearly there is a very close agreement between the probabilities and the observed
2
frequencies. (A formal χ2 goodness of fit test gives χ = .859 from which one
concludes that the normal provides a very good fit.
c) Let Y = X1 + X2 + ... + X6
Then E(Y) = (6)(32) = 192
σY = (6)(9.457) 2 = 23.385
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Production and Operations Analysis, Fourth Edition
200 − 192
P{Y ≤ 200} = P Z ≤ = P{Z ≤ .342} = .6331
23.385
5.6 a) If the company has received firm orders for furniture, then they should be able to
determine how much glue will be required.
b) No. If the exact pattern of future demands were known, then a model should be used
that treats demand as deterministic. It might be advantageous to use a random
demand model if the calculations were much simpler and the penalties of using a
suboptimal solution not very high.
5.7 If he only keeps track of the number of sales, he has no way to accurately estimate the
demand since demand = sales + lost sales. He would need some way to gauge the lost
sales. One method would be to increase his supply for a period of time so that he would
be able to meet all demand.
.27
Critical ratio = = .84375
.05 + .27
Q f(Q) F(Q)
0 .05 .05
5 .10 .15
10 .10 .25
15 .20 .45
20 .25 .70
< - - - - .84375
25 .15 .85
30 .10 .95
35 .05 1.00
Since the critical ratio falls between 20 and 25 the optimal is Q = 25 bagels.
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Solutions For Chapter 5
b) The answers should be close since the given distribution appears to be close to the
normal.
(2)(32)(1032)
σ = .36 = 8.86
Area = 0.86
Q 250
50
b) In this case the demand distribution is assumed to be normal with mean 150 and
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Production and Operations Analysis, Fourth Edition
F(Q) = .86
c) The uniform distribution in this case has a higher variance. The formula for the
2
variance of a uniform variate on (a,b) is (b-a) /12. Substituting b = 250 and a =
2
50 gives a variance in part a) of 3333. The variance in part b) is (20) = 400.
Q,R) = (75,117)
z = 2.59, R = σz + µ = 165
EOQ = 198 = Q0
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Solutions For Chapter 5
Q = 2 λ [K + pn(R)] = 204
h
This value of Q turns out to be optimal. (must iterate once more to obtain R =
171).
d) Use the relationship n(R) = (1 - β)Q to determine R and the fact that n(R) = σ
sL(z).
^p = Qh
= $4.09.
λ ((1 − F(R))
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Production and Operations Analysis, Fourth Edition
b) The cookies attract customers to the store. (In retail parlance, it would be known as a
loss leader.)
5.26 Exchange curves provide management with the opportunity of observing the effect of
various trade-offs. Two exchange curves considered in this chapter were
As the ratio of K/I is increased, the value of lot sizes increase. When lot sizes
increase, the average inventory levels increase and the frequency of replenishment
decreases. The optimal point along this curve provides the proper trade-off of
replenishment frequency and the investment in inventory.
As the service level is increased (either α or fl), the size and hence, the value of
safety stock increases. This curve allows management to see clearly the cost
consequences of improving service levels.
8
8
CiQi λ
and then determine ∑ 2 and ∑ Qi to obtain
i =1 i =1 i
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Solutions For Chapter 5
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Production and Operations Analysis, Fourth Edition
Hence, we have the following four points on the exchange curve: (50, 5014) (35, 7097)
(22, 11,221) and (16, 15,879). Using these points we would approximate the exchange
curve as:
15,000
$ value
10,000
of average
inventory
5,000
10 20 30 40 50 60
replenishments per year
108