QUESTION 21
Inventory costs include
1.
Carrying
2.
Ordering
3.
Shortage costs
4.
all of the above
QUESTION 22
The purpose of inventory management is to determine
1.
How much to order
2.
When to order
3.
all of the above
4.
None of the above
QUESTION 23
Inventory is a stock of items
1.
That needs to be ordered
2.
In the warehouse
3.
Kept on hand to meet demand
4.
none of the above
QUESTION 24
EOQ is the optimal order quantity that wills __________ total inventory costs.
1.
Maximize
2.
Minimize
3.
Steady
4.
Maintain
5.
Improve
QUESTION 25
In the basic EOQ model, if D=60 per month, S=$12, and H=$10 per unit per month, what is the EOQ?
1.
11
2.
12
3.
13
4.
14
QUESTION 26
In the basic EOQ model, if annual demand is 50, carrying cost is $2 per unity per year, and Ordering cost is $15, what is the EOQ?
1.
27.39
2.
26.39
3.
25.39
4.
24.39
5.
22.39
QUESTION 27
Joe scores 76 in his MNS where population average was 74 and STD [standard deviation] was 1.
He scores 80 in his Math class where the population average was 78 and the STD was 1.
Acording to the above information, he did better with his MNS score?
True
False
QUESTION 28
Find the total cost for the following transportation problem using NW Corner Method. Cost is in US Dollars. Choose the best answer.
D1 D2 D3 D4 Availability [Supply]
O1 6 4 1 5 14
O2 8 9 2 7 16
O3 4 3 6 2 5
Requirements 6 10 15 4
$128
$98
$99
$154
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