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Industry 4.0 · End Term · 24 Dec 2023 · September 2023 term · Set ADB3

Question 33: Ramu puts up a stall for Diwali Light (Diya) every year.…

Question 33

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Ramu puts up a stall for Diwali Light (Diya) every year. He builds a Diya at a cost of Rs. 2 and sells for Rs. 4. Any Diya not sold by Diwali will be discounted to 50 Paisa. From his experience, Ramu knows that the demand is Uniformly Distributed within [800, 1000] units. Then answer the given sub questions

What is the optimal order quantity that minimizes Ramu’s total cost?

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Correct answer: 914 (accepted within ±2)

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Question 33 of 34 in the IIT Madras BS Industry 4.0 (Industry 4.0) End Term paper sat on 24 Dec 2023, in the September 2023 term (IIT M DEGREE FN EXAM FDB1 24 Dec 2023). It carries 1 mark.

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