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
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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
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item increases by 3.95%. They view this as evidence in support of
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3) Consider buyers’ demand for durable goods. How might
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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
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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
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2
166.08
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0.0084
SIZE
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1
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2.35
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Interaction
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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
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middle; and in type 3, there were forms both in the middle and at
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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.
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Redwood Company sells craft kits and supplies to retail outlets and through its catalog. Some of...
Redwood Company sells craft kits and supplies to retail outlets
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product-costing system that accounts for direct material, direct
labor, and the associated overhead costs. In addition to these
product costs, Redwood incurs substantial selling costs, and Roger
Jackson, controller, has suggested that these selling costs should
be included...
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