Barbara bright is the purchasing agent for west valve company. west valve sells industrial valves and fluid control devices. one of the most popular valves is the western, which has an annual demand of 4,000 units. the cost of each valve is $90, and the inventory carrying cost is estimated to be 10% of the cost of each valve. barbara has made a study of the costs involved in placing an order for any of the valves that west valve stocks, and she has concluded that the average ordering cost is $25 per or- der. furthermore, it takes about two weeks for an order to arrive from the supplier, and during this time the demand per week for west valves is approximately 80. a) what is the eoq? (b) what is the rop? c) what is the average inventory? what is the annual holding cost? (d) how many orders per year would be placed? what is the annual ordering cost?

Reliability and validity reliability and validity are two important considerations that must be made with any type of data collection. reliability refers to the ability to consistently produce a given result. in the context of psychological research, this would mean that any instruments or tools used to collect data do so in consistent, reproducible ways. unfortunately, being consistent in measurement does not necessarily mean that you have measured something correctly. to illustrate this concept, consider a kitchen scale that would be used to measure the weight of cereal that you eat in the morning. if the scale is not properly calibrated, it may consistently under- or overestimate the amount of cereal that’s being measured. while the scale is highly reliable in producing consistent results (e.g., the same amount of cereal poured onto the scale produces the same reading each time), those results are incorrect. this is where validity comes into play. validity refers to the extent to which a given instrument or tool accurately measures what it’s supposed to measure. while any valid measure is by necessity reliable, the reverse is not necessarily true. researchers strive to use instruments that are both highly reliable and valid.

(a) what was the opportunity cost of non-gm food for many buyers before 2008? (b) why did they prefer the alternative? (c) what was the opportunity cost in 2008? (d) why did it change?

One of your new suppliers, kim, has been hearing rumors about your firm’s lack of capability to deliver high quality products and writes an email asking you to address the claims being made. in replying to her, you want to be sure that you are very clear and leave no room for misinterpretation. which of the following aspects of effective communication should you give the most attention? (a) making sure you understand kim’s areas of expertise. (b) supporting your reply with relevant data and facts. (c) establishing your credibility as an expert. (d) paying attention to implied communications.