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A large retailer (in Sydney) that sells products manufactured by Nanuq Australia needs to develop an inventory policy for electric heaters. The annual demand for the electric heaters is 3,000 (A) units. Each unit costs the retailer $50 (c) with holding costs amounting to 9 cents in the dollar per year (h = 0.09). The order cost is estimated to be $30 (k). (a) Assuming that the retailer does not wish there to be any shortage, determine the economic order quantity for the electric heaters. ( ...

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Tags: Australia  New South Wales  University of New South Wales UNSW STAT279 OperationsResearch I Statistics  Statistics assignment 

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