The annual demand for a product has been projected at 2,000 units. The demand is assumed to be constant throughout the year. The ordering cost is $20 per order, and the holding cost is 20 percent of the purchase cost. The purchase cost is $40 per unit. There are 250 working days in the year. Currently the company is ordering 500 units each time an order is placed. Assuming the company uses a safety stock of 20 units resulting in a reorder point of 60 units, what is the expected lead-time for delivery? A) 4 days B) 5 days C) 6 days D) 7 days E) None of the above A widely used mathematical programming technique designed to help managers and decision making relative to resource allocation is called A) linear programming. B) computer programming. C) Constraint programming D) goal programming. E) None of the above. Typical resources of an organization include A) machinery usage. B) labor volume. C) warehouse space utilization. D) raw material program. E) All of the above Which of the following is not a property of all linear programming problems? A) the presence of restrictions B) optimization of some objective C) a computer program D) alternate courses of action to choose from E) usage of only linear equations and inequalities A feasible solution to a linear programming problem A) must be a corner point of the feasible region. B) must satisfy all of the problem's constraints simultaneously. C) need not satisfy all of the constraints, only the non-negativity constraints. D) must give the maximum possible profit. E) must give the minimum possible cost. In feasibility in a linear programming problem occurs when A) there is an infinite solution. B) a constraint is redundant. C) more than one solution is optimal. D) the feasible region is unbounded. E) there is no solution that satisfies all the constraints given