Question

An item is produced at the rate of 50 items per day. The demand occurs at the rate of 25 items per day. If the set up cost is rs. 100 per set up and the holding cost is rs. 0.01 per unit of item per day, find the economic lot size for one run assuming that shortages are not permitted.

Answer 1

Answer:

The triangle inequality states that the sum of the lengths of any two sides of a triangle is greater than the length of the remaining side. It follows from the fact that a straight line is the shortest path between two points. The inequality is strict if the triangle is non-degenerate (meaning it has a non-zero area).