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Let the cost of inspection is given by 20Q, where $20 is the cost per unit of inspection and the cost of passing defectives is estimated as 4500/Q. i. Find the optimal amount of inspection that

Let the cost of inspection is given by 20Q, where $20 is the cost per unit of inspection and the cost of passing defectives is estimated as 4500/Q. i. Find the optimal amount of inspection that minimizes the associated total cost. ii. Find the associated minimal total cost. iii. Find the total costs at Q = 10 and Q = 20 and highlight their relationship with the cost of optimal quantity of inspection.

Apr 20 2021 View more View Less

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