1. What happens to the validity of the EOQ model of ordering when the reorder point...

1. What happens to the validity of the EOQ model of ordering when the reorder point (ROP) exceeds the maximum inventory level during each cycle of replenishment? Use suitable sketches to support your answer. Limit your answer to two pages

2. For the normal distribution, “joint sufficiency condition” implies one needs only to know the mean and standard deviation of the data distribution to be able to apply it. With this as a fundamental principle, discuss the significance of the “Z-score”. Use suitable sketches to support your answer. Limit your answer to two pages

3. While solving linear programming problems involving two variables using the graphical method, will the optimal solution (assuming there is one) only be at corner points of the feasible solution space? Discuss with suitable sketches

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milcah answered 9 months ago

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