1. How fresh is the meat? A fast food hamburger restaurant uses 3,500 lbs. of hamburger...

1. How fresh is the meat?

A fast food hamburger restaurant uses 3,500 lbs. of hamburger each week. The manager of the restaurant wants to ensure that the meat is always fresh i.e. the meat should be no more than two days old on average when used. How much hamburger should be kept in the refrigerator as inventory?

2. How long does it take to process an insurance claim?

The Acme Australia insurance company processes 12,000 insurance claims per year. At any point in time, there are 480 insurance claims in head office in various phases of processing. Assuming that the office works 50 weeks per year, find out the average processing time of an insurance claim in days.

Expert Solution

1. week's usage = 3500 lbs

Day's usage = 3500/7= 500

He can keep maximum two days stockpile to keep it fresh... hence inventory should be 1000 LBS

2 Total Insurance claims = 12,000

Total Working days= 50*7= 350

Average processing time = 12,000/350= 240/7 claims/day

1 claim requires 7/240 days for processing.

orchestra answered 2 years ago

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