Mylab Operations Management With Pearson Etext -- Access Card -- For Operations Management: Sustainability And Supply Chain Management (13th Edition)
13th Edition
ISBN: 9780135225899
Author: Jay Heizer, Barry Render, Chuck Munson
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter F, Problem 4DQ
Question:
4. Explain the difference between simulated average demand and expected average demand.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Question 7
FastBus Inc.
FastBus Inc. offers low-cost bus transportation between Philadelphia and New York City. The company has 2 buses, each bought for $300,000. Each bus can carry 40 passengers per trip and does 7 daily round trips between Philadelphia and New York City. The price of each one-way ticket is $12. The company sells 28 seats on average per one-way trip, so the load factor is 70%.
The annual fixed cost of running the company is $3,000,000. The major variable cost in their line of business is gasoline, which costs $25 per one-way trip. Fast Bus Inc. buses operate 365 days a year.
Define the return on invested capital as the ratio of the profits (PER YEAR) and the invested capital. You can draw an ROIC tree in the same way that we drew a KPI tree in class. Simply have the ROIC as “the root” of the tree instead of profits. Then answer the question:
What is the current number of customers that are served each year? Assume that FastBus operates 365 days per year and that…
Question 4
Santizit, Inc. produces a constant supply of hand sanitizer bottles (adjusted for seasonality) to its
distributors. Recently the sales team increased their forecast to the distributors. With the updated
sales forecast, the operations management met to discuss the need to revise their optimal, or
economic, order quantity. During the meeting, your manager assigns you to calculate the economic
order quantity of cases of hand sanitizer bottles that the plant would need to achieve to meet the
forecasted supply to the distributors.
The operations supervisor provides you with some key information.
• There are 12 bottles in each innerpack.
• Each case contains 5 innerpacks.
• The average annual holding cost per case is $6.
• The cost per order is $130.
• The plant operates Monday through Friday and has two weeks per year that it is shut down for
maintenance.
The maximum inventory at the end of each production run is 4% greater than the demand.
• Assume daily demand of 12,703 bottles…
v Question Completion Status:
QUESTION 11
The accompanying table shows the demand and supply schedules for lobster. The U.S. government decides that the incomes of lobster farmers should be maintained at a level that
allows them to survive. It therefore implements a price floor of $14 per pound by buying surplus lobster until the market price is $14 per pound.
Quantity Demand
(thousands of pounds)
Quantity Supplied
(thousands of pounds)
Price of Lobster
(per pound)
$22
0.
360
20
20
320
18
40
280
16
60
240
14
80
200
12
100
160
10
120
120
8
140
80
6
160
40
4
180
Reference: Ref 2-1
Since lobster is an important source of protein and omega-3, the government decides to provide the surplus lobster it purchases to nursing homes at a price of only $12 per pound.
Assume that nursing homes will buy any amount of lobsters available at this low price, but families of nursing home patients now reduce their purchases of lobsters at any price by 60
thousand pounds because their family members are…
Chapter F Solutions
Mylab Operations Management With Pearson Etext -- Access Card -- For Operations Management: Sustainability And Supply Chain Management (13th Edition)
Ch. F - Question: 1 State the seven steps, beginning with...Ch. F - Question: 2. List the advantages of simulation.Ch. F - Prob. 3DQCh. F - Question: 4. Explain the difference between...Ch. F - Question: 5. What is the role of random numbers in...Ch. F - Prob. 6DQCh. F - Question: 7. What is Monte Carlo simulation? What...Ch. F - Question: 8. List six ways that simulation can be...Ch. F - Question: 9. Why is simulation such a widely used...Ch. F - Prob. 10DQ
Ch. F - Prob. 11DQCh. F - Prob. 12DQCh. F - Prob. 13DQCh. F - Prob. 1PCh. F - Prob. 2PCh. F - Prob. 3PCh. F - Prob. 4PCh. F - Question F.5 Arnold Palmer Hospital is studying...Ch. F - Prob. 6PCh. F - Question: F.7 A warehouse manager at Mary Beth...Ch. F - Prob. 16PCh. F - Prob. 8PCh. F - Question: F.10 The number of cars arriving at...Ch. F - Prob. 10PCh. F - Prob. 17PCh. F - Prob. 11PCh. F - Question: F.14 Refer to the data in Solved...Ch. F - Prob. 19PCh. F - Prob. 20PCh. F - Prob. 21PCh. F - Prob. 1CSCh. F - Prob. 2CS
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- Question 1 Samsung Electronics Co. Ltd said on Thursday it expects chip shortages to affect chip demand from some customers in the final three months of the year, after reporting its highest quarterly profit in three years. The warning comes as producers of goods from televisions to cars have faced a host of supply chain issues ranging from a shortage of logic chip parts, manpower shortages, logistics snarls, and delays at parts plants due to power cuts in China. Samsung said demand for server DRAM chips, which temporarily save data, and NAND flash chips that serve the data storage market, is expected to stay robust in the fourth quarter due to expansion of data centre investments. Although supply chain issues could limit demand from some mobile chip customers in the fourth quarter, demand for server and personal computer chips is expected to be robust in 2022 despite uncertainties, it said. Analysts expect Samsung's fourth quarter earnings to be level or below its third quarter…arrow_forwardQuestion 2 an estimate of the number of times a customer wanted a The Texas Gladiators won the Super Bowl last year. As a cap when it was not available but did not aşk for it.) result, sportswear such as hats, sweatshirts, sweat- pants, and jackets with the Gladiator's togo are popular. The Gladiators operate an apparel store outside the foot- ball stadium. It is near a busy highway, so the store has heavy customer traffic throughout the year, not just on game days. In addition, the stadium has high school or Week Demand Week Demand Week Demand 1 38 11 28 21 52 2 51 12 41 22 38 3 25 13 37 23 49 4 60 14 44 24 46 college football and soccer games almost every week in the fall, and baseball games in the spring and summer. The most poputar single item the stadium store sells is a red and silver baseball-style cap with the Gladiators' logo on it. The cap has an elastic headband inside it, which conforms to different head sizes. However, the store has 5 35 15 45 25 47 42 16 56 26 41 29 17 62…arrow_forwardQuestion 3 The Mental Health Parity Act requires the same level of health benefits coverage for mental illness as for a physical condition. True False Question 4 A hospital in a rural community is having difficulty attracting radiation therapists. In an effort to attract young, newly trained therapists, the department has decided to pay these newly graduated therapists at a pay rate equivalent to that of radiation therapists who have been with the hospital for up to ten years. What compensation issue is relevant to this scenario? O Internal equity O External competitiveness OExtrinsic rewards O Intrinsic rewardsarrow_forward
- Question 4 A report that could include number of cars which were returned in a month because of serious defects is: Key-indicator report Scheduled report Demand report Exception reportarrow_forwardQuestion 2 Company X signs a contract agreeing to buy 25 hours of maintenance services from Al-Majal Company for SR 30 an hour. What if Al-Majal Company breaks the contract and Company X is forced to hire another maintenance company for SR 40 an hour. Use the editor to format your answerarrow_forwardWal-Mart stores is an excellent example of the market operating as efficiently as it can. Question 2 options: True Falsearrow_forward
- please answer ASAP . Q2 Subject : production and operation managementarrow_forwardPleasearrow_forwardQUESTION 15 The Sweet Success Bakery sells 800 cakes at a price of $20 per cake. Its total economic costs for producing 800 cakes are $4,800. The Sweet Success Bakery's economic profits are O $4,800. $11,200. $16,000. indeterminate from this information.arrow_forward
- Question b and carrow_forwardAccording to the Dependence Effect, consumers control the market through their purchases and so direct what is produced. Question 10 options: True Falsearrow_forwardQUESTION 13 (Please use at least four significant figures in your calculations.) $60 S-curve Turntables $160 Hullabaloo Records $40 $260 S-Curve Turntables manufactures turntables, and sells them through Hullabaloo Records, a chain of specialty record stores. For a model year, they will manufacture their newest model of turntable, called "Orbitz", which will be sold through the record stores. It costs $60 for S- Curve to manufacture the turntables, which it then sells to Hullabaloo for $160. Hullabaloo Records then sells the turntables at retail for $260. Whatever doesn't sell gets put on clearance for $40. Demand for the turntable is expected to be normally distributed with a mean of 1833 and a standard deviation of 1092. What is the optimal order amount that will maximize the SUPPLY CHAIN'S expected profit?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
Operations ManagementOperations ManagementISBN:9781259667473Author:William J StevensonPublisher:McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi...Operations ManagementISBN:9781259666100Author:F. Robert Jacobs, Richard B ChasePublisher:McGraw-Hill Education
Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage Learning
Production and Operations Analysis, Seventh Editi...Operations ManagementISBN:9781478623069Author:Steven Nahmias, Tava Lennon OlsenPublisher:Waveland Press, Inc.
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Operations Management
Operations Management
ISBN:9781259667473
Author:William J Stevenson
Publisher:McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi...
Operations Management
ISBN:9781259666100
Author:F. Robert Jacobs, Richard B Chase
Publisher:McGraw-Hill Education
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Production and Operations Analysis, Seventh Editi...
Operations Management
ISBN:9781478623069
Author:Steven Nahmias, Tava Lennon Olsen
Publisher:Waveland Press, Inc.
Introduction to Forecasting; Author: Ekeeda;https://www.youtube.com/watch?v=5eIbVXrJL7k;License: Standard YouTube License, CC-BY