Chicago's Hard Rock Hotel distributes a mean of 900 bath towels per day to guests at the pool and in their rooms. This demand is normally distributed with a standard deviation of 95 towels per day, based onoccupancy. The laundry firm that has the linen contract requires a 3-day lead time. The hotel expects a 99% service level to satisfy high guest expectations. Refer to the standard normal table for z-values.towels (round your response to the nearest whole number).Xa) What is the reorder point?b) What is the safety stock?towels (round your response to the nearest whole number).Z-TableZ0.380.500.670.841.041.281.411.561.651.752.062.33PrintPr(Z)656975808590929495969899Done

Average daily demand, Standard deviation, Lead time, Service level, From the above normal…

Answered: Chicago's Hard Rock Hotel distributes a…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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A small grocery store sells fresh produce, which it obtains from a local farmer. During the strawberry season, demand for fresh strawberries can be reasonably approximated using a normal distribution with a mean of 36 quarts per day and a standard deviation of 7 quarts per day. Excess costs run .40 cents per quart. The grocer orders 42 quarts per day.Use Table. What is the implied cost of shortage per quart?
It has been theoretically and empirically generalized that Recency is always the most important factor for classification of customers in RFM analysis. True False
Chicago's Hard Rock Hotel distributes a mean of 1,000 bath towels per day to guests at the pool and in their rooms. This demand is normally distributed with a standard deviation of 95 towels per day, based on occupancy. The laundry firm that has the linen contract requires a 4-day lead time. The hotel expects a 98% service level to satisfy high guest expectations. Refer to the standard normal table for z-values. a) What is the reorder point? towels (round your response to the nearest whole number). towels (round your response to the nearest whole number). b) What is the safety stock? Z-Table Z 0.38 0.50 0.67 0.84 1.04 1.28 1.41 1.56 1.65 1.75 2.06 2.33 Pr(Z) 65 69 75 80 85 90 92 94 95 96 98 99
Chicago's Hard Rock Hotel distributes a mean of 1,200 bath towels per day to guests at the pool and in their rooms. This demand is normally distributed with a standard deviation of 95 towels per day, based on occupancy. The laundry firm that has the linen contract requires a 4-day lead time. The hotel expects a 95% service level to satisfy high guest expectations. Refer to the standard normal table for z-values. Z-Table: Z Pr(Z) 0.38 65 0.50 69 0.67 75 0.84 80 1.04 85 1.28 90 1.41 92 1.56 94 1.65 95 1.75 96 2.06 98 2.33 99 a) What is the reorder point? b) What is the safety stock?
A small grocery store sells fresh produce, which it obtains from a local farmer. During the strawberry season, demand for fresh strawberries can be reasonably approximated using a normal distribution with a mean of 40 quarts per day and a standard deviation of 6 quarts per day. Excess costsrun 35 cents per quart. The grocer orders 49 quarts per day.a. What is the implied cost of shortage per quart?
Chicago's Hard Rock Hotel distributes a mean of 1,100 bath towels per day to guests at the pool and in their rooms. This demand is normally distributed with a standard deviation of 100 towels per day, based on occupancy. The laundry firm that has the linen contract requires a 3-day lead time. The hotel expects a 96% service level to satisfy high guest expectations. Refer to the standard normal table for z-values. a) What is the reorder point? towels (round your response to the nearest whole number). b) What is the safety stock? towels (round your response to the nearest whole number).
Explain the following based on Demand Management Demand Management Independent Demand Dependent Demand Random Variations Safety Stocks
A small grocery store sells fresh produce, which it obtains from a local farmer. During the strawberry season, demand for fresh strawberries can be reasonably approximated using a normal distribution with a mean of 40 quarts per day and a standard deviation of 6 quarts per day. Excess costsrun 35 cents per quart. The grocer orders 49 quarts per day.a. What is the implied cost of shortage per quart?b. Why might this be a reasonable figure?
A company begins a review of ordering policies for its continuous review system by checking the current policies for a sample of SKUS Following are the characteristics of one tem Demand (D)=85 units/week (Assume 52 weeks per year) Ordening and setup cost (S) $75/order Holding cost (H)-$16/und/year Lead time (L) 5 week(s) Standard deviation of weekly demand 22 units Cycle-service lovel-90 percent >EOQ-207 units Using the above information, develop the best policies for a periodic review system Refer to the standard normal table for z-values a. What value of P gives the same approximate number of orders per year as the EOQ? weeks (Enter your response rounded to the nearest whole number) b. To provide a 98 percent cycle-service level, the average safety stock is To provide a 98 percent cycle-service level, the target inventory level is unts (Enter your response rounded to the nearest whole number) units (Enter your response rounded to the nearest whole number)
University of Florida football programs are printed 1 week prior to each home game. Attendance averages 90,000 screaming and loyal Gators fans, of whom two-thirds usually buy the program, following a normal distribution, for $5 each. Unsold programs are sent to a recycling center that pays only 10 cents per program. The standard deviation is 5,000 programs, and the cost to print each program is $1. Refer to the standard normal table for z-values. a) What is the cost of underestimating demand for each program? C = $4 (round your response to two decimal places). b) What is the overage cost per program? Co = $.9 (round your response to two decimal places). c) How many programs should be ordered per game? programs should be ordered per game (round your response to the nearest whole number).
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University of Florida football programs are printed 1 week prior to each home game. Attendance averages 90,000 screaming and loyal Gators fans, of whom two-thirds usually buy the program, following a normal distribution, for $5 each. Unsold programs are sent to a recycling center that pays only 10 cents per program. The standard deviation is 5,000 programs, and the cost to print each program is $1. Refer to the standard normal table for z-values. a) What is the cost of underestimating demand for each program? Cs = $ (round your response to two decimal places). b) What is the overage cost per program? = $ (round your response to two decimal places). c) How many programs should be ordered per game? programs should be ordered per game (round your response to the nearest whole number). d) What is the stockout risk for this order size? Stockout risk = (round your response to four decimal places).

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