City parks: a city’s mayor has to decide how much money to spend on parks and recreation. city codes restrict this spending to no more than 5% of the budget, and the yearly budget of the city is $20,000,000. the mayor wants to his constituents, who have diminishing returns from parks. the moneyequivalent benefit from spending $c on parks is v(c) = √(400c) − 1/80 c. what now is the action set for the mayor, and how much spending should he choose to cater to his constituents?

Aproduction order quantity problem has a daily demand rate = 10 and a daily production rate = 50. the production order quantity for this problem is approximately 612 units. what is the average inventory for this problem?

The lee family is looking to buy a house in one of two suburban areas just outside of a major city, and air quality is a top priority for them. overall air quality is calculated by taking measures in 100 locations within each suburb and then calculating a measure of central tendency. in one suburb, there is a major bus station that creates very poor air quality at its location but has no impact in the surrounding parts of the suburb. in this situation, which measure of overall suburb air quality would be most useful?

The purpose of safety stock is to: a. eliminate the possibility of a stockout. b. control the likelihood of a stockout due to variable demand and/or lead time. c. eliminate the likelihood of a stockout due to erroneous inventory tally. d. protect the firm from a sudden decrease in demand. e. replace failed units with good ones.