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1) What is the main objective of a Newsvendor? To maximize his sales To maximize his profit To minimize the probability of stockout 2) Newsvendor model is: A multi period probabilistic model A single period probabilistic model A single period deterministic model 3) The Service Level is basically: Probability of Stockout Service Factor Shelf Availability 4) When the demand is higher than the ordered quantity which of the following cost is incurred? Underage Cost Overage cost Marginal Cost 5) Marginal Loss is calculated as: Sell Price - Shortage Cost Purchase Cost - Shortage Cost Purchase Cost - Salvage Value 6) If the overage cost is Rs 1.50 and Underage cost is Rs 0.50, what will be the probability of stockout at which the profit maximization takes place? 0.55 0.75 0.25 7) A seasonal product is having a mean demand of 500 unit and a standard deviation of 100 units.A retailer purchases the product at Rs 6 per unit and sells it at Rs 10 per unit.Extra items can be sold at half of the sell price at the end of season.Calculate the optimum quantity to be purchased using the table given below ? 584 units 416 units 548 units 8) Calculate the optimal quantity if the standard deviation reduces to 75 units? 584 units 548 units 563 units 9) "Newsvendor" simulation is basically Static Simulation Dynamic Simulation None of the above 10) In a system, an object of interest is called Attributes entity Function
1) What is the main objective of a Newsvendor?
To maximize his sales
To maximize his profit
To minimize the probability of stockout
2) Newsvendor model is:
A multi period probabilistic model
A single period probabilistic model
A single period deterministic model
3) The Service Level is basically:
Probability of Stockout
Service Factor
Shelf Availability
4) When the demand is higher than the ordered quantity which of the following cost is incurred?
Underage Cost
Overage cost
Marginal Cost
5) Marginal Loss is calculated as:
Sell Price - Shortage Cost
Purchase Cost - Shortage Cost
Purchase Cost - Salvage Value
6) If the overage cost is Rs 1.50 and Underage cost is Rs 0.50, what will be the probability of stockout at which the profit maximization takes place?
0.55
0.75
0.25
7) A seasonal product is having a mean demand of 500 unit and a standard deviation of 100 units.A retailer purchases the product at Rs 6 per unit and sells it at Rs 10 per unit.Extra items can be sold at half of the sell price at the end of season.Calculate the optimum quantity to be purchased using the table given below ?
584 units
416 units
548 units
8) Calculate the optimal quantity if the standard deviation reduces to 75 units?
563 units
9) "Newsvendor" simulation is basically
Static Simulation
Dynamic Simulation
None of the above
10) In a system, an object of interest is called
Attributes
entity
Function
