Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

18 A fabricating shop orders supplios every 6 days. The lead time for deliveries is 9 days. Demand for steel averages 30 pounds per day

image text in transcribed
18 A fabricating shop orders supplios every 6 days. The lead time for deliveries is 9 days. Demand for steel averages 30 pounds per day with a standard deviation of 3,3 pounds. The holding cost for steel is $0.6 per pound per day. The fabricating shop wonts to achieve an in-stock probability rate of 99.87% for steel Round your answer to one decimal place On average, how many pounds of stoel will the fabricating ahop have on order? pound 0202

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M

5th Canadian edition

9781259105692, 978-1259103285

Students also viewed these Finance questions

Question

What background experience do you have?

Answered: 1 week ago