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A health food retailer sells cartons of protein shake powder which it purchases from a supplier. The demand for the protein shake powder is 6200 cartons per year. It costs the health food retailer £50 per order to place an order with their supplier. Annual storage cost per carton is £2.50
", "advice": "", "rulesets": {}, "extensions": [], "variables": {}, "variablesTest": {"condition": "", "maxRuns": 100}, "ungrouped_variables": [], "variable_groups": [], "functions": {}, "preamble": {"js": "", "css": ""}, "parts": [{"type": "numberentry", "useCustomName": false, "customName": "", "marks": "3", "showCorrectAnswer": false, "showFeedbackIcon": false, "scripts": {}, "variableReplacements": [], "variableReplacementStrategy": "originalfirst", "adaptiveMarkingPenalty": 0, "customMarkingAlgorithm": "", "extendBaseMarkingAlgorithm": true, "unitTests": [], "prompt": "Calculate the EOQ for the purchase of the protein shake cartons.
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\nTable : Supplier price schedule
\n\n Order Quantity \n | \n\n Unit Price \n | \n
\n 0 – 999 \n | \n\n £3.60 \n | \n
\n 1000 or more \n | \n\n £3.00 \n | \n
Calculate the total cost to the health food retailer at EOQ.
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", "minValue": "20159", "maxValue": "20161", "correctAnswerFraction": false, "allowFractions": false, "mustBeReduced": false, "mustBeReducedPC": 0, "showFractionHint": true, "notationStyles": ["plain", "en", "si-en"], "correctAnswerStyle": "plain"}, {"type": "numberentry", "useCustomName": false, "customName": "", "marks": "6", "showCorrectAnswer": false, "showFeedbackIcon": false, "scripts": {}, "variableReplacements": [], "variableReplacementStrategy": "originalfirst", "adaptiveMarkingPenalty": 0, "customMarkingAlgorithm": "", "extendBaseMarkingAlgorithm": true, "unitTests": [], "prompt": "The health food shop has determined that demand for cartons of protein shake powder is normally distributed with a mean of 20 per day and a standard deviation of 5.3. The lead time for receiving new stock is 5 days.
\nCalculate the buffer stock level that the health food shop should hold if they want to ensure that there is a less than 5% chance of running out of stock.
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