Question

In: Operations Management

True or False. 1) in the newsvendor model, we may need to place more than one...

True or False.

1) in the newsvendor model, we may need to place more than one order in a single decision period.

2) Organizations need work in process inventories to buffer for uncertainty and variability in processes.

3) in the basic EOQ model, the demand rate is a constant units per unit time.

4) The reorder point is the level of on-hand inventory at the instant an order should be placed

5) lot size-reorder point systems can be used when there is a setup cost and there is a positive load time

Expert Solution

Ans1) False

Reason - Newsvendor model is usually applicable for perishable goods so during a single decision period we cannot place more than one order because the manufacturing and transportation lead times are more and we have to suffice with excess demand being not met or with excess inventory.

Ex - Fresh vegetables,News papers etc.

Ans2) True

Reason - Demand is going to vary over a period of time and hence a safety stock has to be maintained,often industries maintain excess WIP (Work in progress) inventory to cater to safety stock demands so that organisation meets higher customer service levels

Ans 3) True

Reason - This is a basic assumption taken while formulating the EOQ model

Ans 4) True

Reason - Re -order as name suggests, to place an order when inventory reaches or braches this level

Ans 5) True

Reason - If Optimal lot size is not defined unnecessary setups will increase leading to more costs

and Reorder helps in getting the material on time without increasing the wait time at the machine

P.S --Kindly give thumbs up --This will motivate me to provide more and more quality answers!

keosha answered 7 months ago

Which of the following statements are true? There may be more than one true statement. A....

Which of the following statements are true? There may be more than one true statement. A. Any linear combination of vectors can always be written in the form Ax for a suitable matrix A and vector x. B. Every matrix equation Ax=b corresponds to a vector equation with the same solution set. C. If the echelon form of the augmented matrix [A | b][A | b] has a leading entry in every row, then the equation Ax=b is inconsistent. D....

I need detailed long answer, more than 1 page, with references. True/ False - On average,...

I need detailed long answer, more than 1 page, with references. True/ False - On average, acquisitions destroy shareholder value Identify a corporate acquistion (within the last 10 years) which added value to the acquiring company and discuss a minimum of three (3) key factors which enabled their success?

I need detailed long answer, more than 1 page, with references. True/ False - An unusually...

I need detailed long answer, more than 1 page, with references. True/ False - An unusually low stock price in management's eyes encourages management to take the company private in a management buyout Identify an instance where management took a company private based on a low stock price valuation? Did the company remain private, and if so, why did it remain in private hands?

A) Which of the following statements are true? Note that there may be more than one...

A) Which of the following statements are true? Note that there may be more than one correct answer; select all that are true. As the p-value increases, the evidence against the null hypothesis also increases. In hypothesis testing, if the p-value is sufficiently small, then the null hypothesis can be rejected in favour of the alternate hypothesis. If the null hypothesis is true, then the p-value will always be greater than 0.1. If the null hypothesis is false, then the...

1. What statements about muscle cells and ATP are TRUE? There may be more than one...

1. What statements about muscle cells and ATP are TRUE? There may be more than one answer. Select one or more: a. Muscle cells involved in aerobic metabolism have longer endurance and have greater force generating capacity than muscles involved in anaerobic metabolism. b. Muscle cells involved in aerobic metabolism have longer endurance but have smaller muscle mass than muscles involved in anaerobic metabolism. c. When muscle cell is at work, creatine kinase will convert ADP + creatine into ATP...

Which of the following statements are TRUE? Note that there may be more than one correct...

Which of the following statements are TRUE? Note that there may be more than one correct answer; select all that are true. There are countably infinite values of X in a continuous uniform distribution. For a continuous uniform distribution defined on the interval [a,b], P(X < a) and P(X > b) is undefined. The mean and the variance of a continuous uniform random variable are the same. In a continuous uniform distribution, the mean and the median are the same....

Which of the following statements is true? Note that more than one of the statements may...

Which of the following statements is true? Note that more than one of the statements may be true. a. Every relation that is in 3NF is in 2NF. b. A relation that is in 2NF, and that has a non-primary-key attribute that is functionally dependent on another non-primary-key attribute is not in 3NF. c. A relation that is in 2NF, and that has a non-primary-key attribute that is transitively functionally dependent on the primary key is not in 3NF. Which...

True or false: 1) If a nation is selling more goods and services to foreigners than...

True or false: 1) If a nation is selling more goods and services to foreigners than it is buying from them, then on net it must be selling assets abroad. 2) It is possible for a country to have domestic investment that exceeds national saving. 3) If a country’s trade surplus falls, its net capital outflow rises. 4) If the exchange rate is 80 yen per dollar, then a hotel room in Tokyo that costs 25,000 yen costs $200. 5)...

True or False 1) in a population regression model, we assume the errors are independent of...

True or False 1) in a population regression model, we assume the errors are independent of each other and normally distributed with constant variance 2) when we apply the ordinary least squares to estimate the slope and intercept of a linear model, the sum of all the residuals can be less than or greater than zero 3) if SSE is near zero in a regression, the statistician will conclude that the proposed model probably has too poor a fit to...

1) True or False: a) CH3Br is a more reactive electrophile than CH3Cl because Br is...

1) True or False: a) CH3Br is a more reactive electrophile than CH3Cl because Br is more electronegative than Cl b) Iodide anion is a more reactive nucleophile than bromide anion. c) Dehydrohalogenation of alkyl halides forms the trans-isomer as the major alkene product. d)The (E)- and (Z)- alkene isomers are a pair of diastereomers. e) The reaction between a secondary alkyl bromide and a sodium alkoxide salt (NaOR) gives a major product from nucleophilic substitution.