Ban the box refers to laws or policies that prevent the employment of individuals with criminal records

Which of the following is true of operations-oriented pricing?

a. It involves maintaining a fixed price for a product or a service throughout the year. b. It focuses on maximizing the surplus of income over costs. c. It seeks to match supply and demand by varying prices. d. It tries to maximize the number of customers using a service by improving its quality.

The demand for refrigerators at an appliance store adheres to the following probability distribution:

Demand per day 0 1 2 3 4 Lead Time 1 2 Probability 0.15 0.2 0.3 0.2 0.15 0.80 0.20 Random # 01-15 16-35 36-65 66-85 86-00 01-80 81-00 The store orders 4 refrigerators per day to have in stock to meet demand. They are trying to maintain low inventory levels. The holding cost is $5/unit/day. The ordering cost is $20 per order. The lost sale cost is $10/unit. A simulation is to be developed to estimate the average daily inventory cost over 5 days. The table below shows the random numbers to be used for refrigerator demand and lead time on orders: demand random number lead time random number day 1 88 54 day 2 27 94 day 3 32 44 day 4 36 75 day 5 54 71 Assuming that beginning inventory is equal to 5 with no prior orders in transit, what is the overall average daily cost of inventory for the 5 days?