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Industry 4.0 · Quiz 2 · 3 Dec 2023 · September 2023 term · Set 1

Question 10: If the cost of overstocking is less than the cost of und…

Question 10

+2 marksOne correct option

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:

If the cost of overstocking is less than the cost of understocking , where will the optimal order quantity lies in the interval [800, 1000 ] Units ?

  1. A

    Toward left of the mean of uniform distribution [800,1000]

  2. B

    At the mean of uniform distribution [800,1000]

  3. C

    Towards right of the mean of uniform distribution [800,1000]

Show answer

Correct answer

  • C

    Towards right of the mean of uniform distribution [800,1000]

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Question 10 of 17 in the IIT Madras BS Industry 4.0 (Industry 4.0) Quiz 2 paper sat on 3 Dec 2023, in the September 2023 term (IIT M DEGREE AN2 EXAM QDB2 03 Dec 2023). It carries 2 marks.

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