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Industry 4.0 · Quiz 2 · 16 Mar 2025 · January 2025 term · Set 1

Question 12: What is the optimal order quantity that minimizes Ramu’s…

Question 12

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Ramu puts up a stall for Diwali Light (Diya) every year. He builds a Diya at a cost of Rs. 1 and earns Rs.2 by selling each Diya. 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 subquestions.

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

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Question 12 of 18 in the IIT Madras BS Industry 4.0 (Industry 4.0) Quiz 2 paper sat on 16 Mar 2025, in the January 2025 term (IIT M DEGREE AN EXAM QDB4 16 Mar 2025). It carries 2 marks.

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