Need help with statistics questions thanks A manufacturing p

Need help with statistics questions, thanks.

A manufacturing process has been operating for 15 days. If the initial inventory order was 700 units and today\'s stock level is 400 units, what is the daily inventory usage rate? (Sec 6.1)

Inventory holding cost can be best described as: (Sec 6.2)

In business decision making, the difference between each payoff and the largest payoff for each state of nature is called: (Sec 9.3)

Solution

the cost of holding inventory can be best described as item cost*demand

as more the demand of the item more the price will be hence the answer will be option d.