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Quantitative Methods in Business

 

 

The San Diego County Fair takes place annually from the first week of June through July 4. Every year, the fair hosts nearly a hundred stands that sell various food and drink items, and provides dozens of areas throughout the fairgrounds specifically designated for eating. As the fairgrounds are situated very close to the ocean, evenings at the fair can be quite chilly. After years of fielding complaints from guests about the dining areas being too cold in the later hours of the day, management has decided to place heat lamps throughout each dining area. The lamps will be powered by reusable propane tanks which are to be provided by a local propane supplier. As this is the first year lamps will be provided, management is still refining its plan for propane delivery. The supplier has suggested a delivery process in which it would deliver a certain number of filled tanks every day over a fixed number of days. At the end of this production run, the supplier would collectall empty tanks and return them to its warehouse to be refilled. The fair would then deplete its supply of propane until the next production run, at which point the supplier will deliver the refilled tanks and again collect the empty ones for refilling. This cycle would repeat through the duration of the fair, which runs every day for 5 weeks (35 days total). Management has negotiated to buy the filled tanks at $12 per tank, and the supplier has negotiated a fixed delivery rate of $100 per production run. The supplier has the capacity to deliver up to 300 tanks per day. As the lamps are to be lit on a consistent daily schedule, management estimates that propane will be consumed at a near constant rate of 90 tanks each day. Management also assumes that the holding costs for filled propane tanks total approximately $2.50 per tank. (As empty tanks do not require careful storage, management has decided to attribute holding costs only to any filled tanks on the premises.)

 

a. What is the optimal number of tanks that should be delivered in each complete production run in order to minimize the total cost of managing inventory? Note that any ‘annual’ estimates used in your calculations should only reflect the duration of the fair. (3 pts)

 

b. Using the optimal lot size, how long will each production run last? (1 pt)

 

c. Although the fair plans to accommodate a supply of both filled and empty tanks at any given moment, the filled tanks require special care, as they are both pressurized and highly flammable, and must be stored in a safe environment until ready for use. In order to plan for storage accordingly, management would like to know the following: using the recommended order quantity as determined in the part A, what is the maximum number of filled propane tanks that will be on the premises at any given moment? (1 pt)

 

d. How many production runs will occur over the length of the fair? (1 pt)e. What is the total cost of managing inventory? (excluding cost of goods) (2 pts)

 

 

Sample Answer

Compelling correspondence is essential to the achievement all things considered but since of the changing idea of the present working environments, successful correspondence turns out to be more troublesome, and because of the numerous impediments that will permit beneficiaries to acknowledge the plan of the sender It is restricted. Misguided judgments.In spite of the fact that correspondence inside the association is rarely completely open, numerous straightforward arrangements can be executed to advance the effect of these hindrances.

Concerning specific contextual analysis, two significant correspondence standards, correspondence channel determination and commotion are self-evident. This course presents the standards of correspondence, the act of general correspondence, and different speculations to all the more likely comprehend the correspondence exchanges experienced in regular daily existence. The standards and practices that you learn in this course give the premise to additionally learning and correspondence.


This question has been answered

This course starts with an outline of the correspondence cycle, the method of reasoning and hypothesis. In resulting modules of the course, we will look at explicit use of relational connections in close to home and expert life. These incorporate relational correspondence, bunch correspondence and dynamic, authoritative correspondence in the work environment or relational correspondence. Rule of Business Communication In request to make correspondence viable, it is important to follow a few rules and standards. Seven of them are fundamental and applicable, and these are clear, finished, brief, obliging, right, thought to be, concrete. These standards are frequently called 7C for business correspondence. The subtleties of these correspondence standards are examined underneath: Politeness Principle: When conveying, we should build up a cordial relationship with every individual who sends data to us.

To be inviting and polite is indistinguishable, and politeness requires an insightful and amicable activity against others. Axioms are notable that gracious “pay of graciousness is the main thing to win everything”. Correspondence staff ought to consistently remember this. The accompanying standards may assist with improving courtesy:Preliminary considering correspondence with family All glad families have the mystery of progress. This achievement originates from a strong establishment of closeness and closeness. Indeed, through private correspondence these cozy family connections become all the more intently. Correspondence is the foundation of different affiliations, building solid partners of obedient devotion, improving family way of life, and assisting with accomplishing satisfaction (Gosche, p. 1). In any case, so as to keep up an amicable relationship, a few families experienced tumultuous encounters. Correspondence in the family is an intricate and alluring marvel. Correspondence between families isn’t restricted to single messages between families or verbal correspondence.

It is a unique cycle that oversees force, closeness and limits, cohesiveness and flexibility of route frameworks, and makes pictures, topics, stories, ceremonies, rules, jobs, making implications, making a feeling of family life An intelligent cycle that makes a model. This model has passed ages. Notwithstanding the view as a family and family automatic framework, one of the greatest exploration establishments in between family correspondence centers around a family correspondence model. Family correspondence model (FCP) hypothesis clarifies why families impart in their own specific manner dependent on one another ‘s psychological direction. Early FCP research established in media research is keen on how families handle broad communications data. Family correspondence was perceived as an exceptional scholastic exploration field by the National Communications Association in 1989. Family correspondence researchers were at first impacted by family research, social brain science, and relational hypothesis, before long built up the hypothesis and began research in a family framework zeroed in on a significant job. Until 2001, the primary issue of the Family Communication Research Journal, Family Communication Magazine, was given. Family correspondence is more than the field of correspondence analysts in the family. Examination on family correspondence is normally done by individuals in brain science, humanism, and family research, to give some examples models. However, as the popular family correspondence researcher Leslie Baxter stated, it is the focal point of this intelligent semantic creation measure making the grant of family correspondence special. In the field of in-home correspondence, correspondence is normally not founded on autonomous messages from one sender to one beneficiary, yet dependent on the dynamic interdependency of data shared among families It is conceptualized. The focal point of this methodology is on the shared trait of semantic development inside family frameworks. As such, producing doesn’t happen in vacuum, however it happens in a wide scope of ages and social exchange.

Standards are rules end up being followed when performing work to agree to a given objective. Hierarchical achievement relies significantly upon compelling correspondence. So as to successfully impart, it is important to follow a few standards and rules. Coming up next are rules to guarantee powerful correspondence: clearness: lucidity of data is a significant guideline of correspondence. For beneficiaries to know the message plainly, the messages ought to be sorted out in a basic language. To guarantee that beneficiaries can without much of a stretch comprehend the importance of the message, the sender needs to impart unmistakably and unhesitatingly so the beneficiary can plainly and unquestionably comprehend the data.>

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