Question
In: Operations Management
The Highland Company is planning orders for its winter catalog. One order is to be placed...
The Highland Company is planning orders for its winter catalog. One order is to be placed at the beginning of the season through calling the manufacturer. The demand forecast for one of its jackets is normal, with a mean of 5,000 and standard deviation of 2,000. Each jacket has a sale price of $122, and any unsold jackets at the end of the season will be discounted and sold through the outlet store for $35. The manufacturer offer to sell each jacket for $60 if the order is for less than 6000 jackets and $55 if the order is more than 6000 brakes. Decide through Estimation how many jackets should Highland Company order? What is the overstocking/understocking?
Solutions
keosha answered 2 years agoRelated Solutions
A catalog sales company promises to deliver orders placed on the Internet within 3 days. Follow-up...
A catalog sales company promises to deliver orders placed on the
Internet within 3 days. Follow-up calls to a few randomly selected
customers show that a 90% confidence interval for the proportion
of all orders that arrive on time is 88% ±4%. What does this
mean? Are the conclusions below correct? Explain.
a) Between 84%
and 92%
of all orders arrive on time.
b)
90% of all random samples of customers will show that 88%
of orders arrive on time....
A company GPro, uses EOQ logic to determine the order quantity for its various components and is planning its orders.
A company GPro, uses EOQ logic to determine the order quantity
for its various components and is planning its orders.The Annual consumption is 80,000 units, Cost to place one order
is 1,200 dollars, Cost per unit is 50 dollars and carrying cost is 6% of Unit cost.Calculate:- EOQ- Number of orders per year- The ordering cost- The carrying cost- Total Inventory cost
Conlin, O’Donoghue and Vogelsang (2007) looked at catalog orders from an apparel and gear company that...
Conlin, O’Donoghue and Vogelsang (2007) looked at catalog orders
from an apparel and gear company that sells weather-related items.
They found that if the temperature on the date a cold weather is
purchased is 30 degrees F lower, the probability of returning the
item increases by 3.95%. They view this as evidence in support of
projection bias. Why?
3) Consider buyers’ demand for durable goods. How might
projection bias and the endowment effect impact the price they are
willing to...
A mail-order catalog company designed a factorial experiment to test the effect of the SIZE of...
A mail-order catalog company designed a factorial experiment to
test the effect of the SIZE of a magazine advertisement and the
DESIGN of the advertisement on the number of catalog requests
received (measured in thousands). Three different designs were
tested: A, B and C, and two different sizes were used: "Small" and
"Large". The Excel-generated ANOVA output is provided below:
Source
SS
df
MS
F
PV
DESIGN
332.17
2
166.08
11.72
0.0084
SIZE
33.33
1
33.33
2.35
0.1759
Interaction
77.17...
Al’s Florist places orders for vases every 12 days. Once an order is placed, it takes...
Al’s Florist places orders for vases every 12 days. Once an
order is placed, it takes four days for it to arrive. The store
sells on average 30 vases per day, with a standard deviation of 8.
Al’s wants to ensure that it can satisfy 90% of the customers who
demand vases. Assume that the sales representative just walked in
the door and there are currently 7 vases in the back.
a) How many vases would you order?
b) What...
Al’s Florist places orders for vases every 12 days. Once an order is placed, it takes...
Al’s Florist places orders for vases every 12 days. Once an
order is placed, it takes four days for it to arrive. The store
sells on average 30 vases per day, with a standard deviation of 8.
Al’s wants to ensure that it can satisfy 90% of the customers who
demand vases. Assume that the sales representative just walked in
the door and there are currently 7 vases in the back.
a) How many vases would you order?
b) What...
A direct-mail retailer experimented with three different ways of incorporating order forms into its catalog. In...
A direct-mail retailer experimented with three different ways
of incorporating order forms into its catalog. In type 1 catalogs,
the form was at the end of the catalog; in type 2, it was in the
middle; and in type 3, there were forms both in the middle and at
the end. Each form was sent to a sample of 1,000 potential
customers, none of whom had previously bought from the retailer.
The observed contingency table is given below:
Received
Type...
Maram Manufacturing Company received orders: 1; 2; 3. Orders: 2 and order 3 completed. Order 2...
Maram Manufacturing Company received orders: 1; 2; 3. Orders: 2
and order 3 completed. Order 2 sold. I
nstructions: Prepare job costing schedule. And the necessary
journals.
Additional information:
1. Materials used $200,000 distributed 30%; 20%; 50%
respectively to the orders.
2. Labor: $20,000; $30,000; $40,000 respectively to the
orders.
3. Overhead cost: $10,000; $60,000; $70,000 respectively to the
orders.
Suppose Jones Company has orders from three customers located in the same market area. One order...
Suppose Jones Company has orders from three customers located in
the same market area. One order has a total weight of 3,600 pounds,
the second weighs 8,300 pounds, and the third weighs 12,100 pounds.
The transportation carrier quotes a freight rate of $20 per
hundredweight (or cwt.) for direct shipment to the customer for
shipments weighing 1,000 to 4,999 pounds, $18 per cwt. for orders
weighing 5,000 to 9,999 pounds, and $16 for shipments weighing
between 10,000 and 15,000 pounds....
Martin Company and Winter Company are each merchandising companies applying for nine-month bank loans in order...
Martin Company and Winter Company are each merchandising
companies applying for nine-month bank loans in order to finance
the acquisition of new equipment. Both companies are seeking to
borrow the amount of $210,000 and have submitted the following
balance sheets with their loan application.
MARTIN COMPANY
CURRENT ASSETS:
ASSETS
Cash
$57,000
Accounts receivable
153,000
Inventories
162,000
Short-term prepayments
6,000
Total current assets
$ 378,000
PLANT AND EQUIPMENT:
Land
$150,000
Building
$600,000
Less: Accumulated depreciation
90,000
510,000
Store equipment
180,000
Less:...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- (2) Cite an example on how organizations like Google, Facebook, Youtube etc collect data for image...
- The legal landscape is perpetually changing. Psychologists must remain abreast of these changes to avoid potentially...
- We are evaluating a project that costs $1.68 million, has a six-year life, and has no...
- In C++ Having call-by-reference allows one to use storeback parameters, i.e., parameters whose values are transmitted...
- You must evaluate a proposal to buy a new milling machine. The base price is $175,000,...
- “Triangle Guessing” game in Python The program accepts the lengths of three (3) sides of a...
- THIS PROGRAM HAS TO BE WRITTEN IN C Single function to perform the parity computation on...
ADVERTISEMENT