In economics, the most economical quantity Q of goods (TVs, dresses, gallons of paint, etc.) for a
Question:
Q = f (K, M, h) = √12KM / h
where K is the cost of placing the order, M is the number of items sold per week, and h is the weekly holding cost for each item (the cost of storage space, utilities, taxes, security, etc.). Find f (200,625,1) and interpret your answer.
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Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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