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The demand for a certain item is random. It has been estimated that monthly demand of the item has a normal distribution with a mean
The demand for a certain item is random. It has been
estimated that monthly demand of the item has a normal
distribution with a mean of units. The unit price of the
item is Rs ordering cost is Rs and the inventory
carrying cost is estimated to be per cent year. Determine
a EOQ, b Total inventory cost with EOQ
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