Calculate the total consumption for the 12 months.

Economics
Calculate the total consumption for the 12 months.

ScanSolve AI Answer

Answer

1307.17 kg

Morning Luria — let's get this done.

To calculate the minimum stock, we first need to find the average monthly consumption. The problem states that the minimum stock is fixed at 2 months of average consumption.

Step 1: Calculate the total consumption for the 12 months. The table provides the consumption for each month and a total. Total consumption = 630+654+568+698+645+732+845+50+658+768+745+850=7843 kg630 + 654 + 568 + 698 + 645 + 732 + 845 + 50 + 658 + 768 + 745 + 850 = 7843 \text{ kg}.

Step 2: Calculate the average monthly consumption. The average monthly consumption is the total consumption divided by the number of months. Averagemonthlyconsumption=TotalconsumptionNumberofmonthsAverage monthly consumption = \frac{Total consumption}{Number of months} Averagemonthlyconsumption=7843kg12monthsAverage monthly consumption = \frac{7843 kg}{12 months} Averagemonthlyconsumption653.5833kg/monthAverage monthly consumption \approx 653.5833 kg/month

Step 3: Calculate the minimum stock. The minimum stock is 2 months of average consumption. Minimumstock=2×AveragemonthlyconsumptionMinimum stock = 2 \times Average monthly consumption Minimumstock=2×784312kgMinimum stock = 2 \times \frac{7843}{12} kg Minimumstock=78436kgMinimum stock = \frac{7843}{6} kg Minimumstock1307.17kgMinimum stock \approx 1307.17 kg

The minimum stock is approximately 1307.17kg\boxed{1307.17 kg}.

Send me the next one 📸

Was this helpful?

Need help with your own homework?

Get instant step-by-step solutions to any question. Free to start.

Ask Your Question
Handwritten step-by-step solution preview

Handwritten Step-by-Step Solution

Get this as a handwritten image on WhatsApp — like a tutor wrote it for you.

Try on WhatsApp

Still have questions?

Quick Answer

Morning Luria — let's get this done. To calculate the minimum stock, we first need to find the average monthly consumption.

Calculate the total consumption for the 12 months.
Economics

This economics question tests your understanding of economic models and analysis. The step-by-step answer below applies the relevant framework and explains the reasoning.

ScanSolve AI Answer
Morning Luria — let's get this done. To calculate the minimum stock, we first need to find the average monthly consumption. The problem states that the minimum stock is fixed at 2 months of average consumption. Step 1: Calculate the total consumption for the 12 months. The table provides the consumption for each month and a total. Total consumption = 630 + 654 + 568 + 698 + 645 + 732 + 845 + 50 + 658 + 768 + 745 + 850 = 7843 kg. Step 2: Calculate the average monthly consumption. The average monthly consumption is the total consumption divided by the number of months. Average monthly consumption = Total consumptionNumber of months Average monthly consumption = 7843 kg12 months Average monthly consumption ≈ 653.5833 kg/month Step 3: Calculate the minimum stock. The minimum stock is 2 months of average consumption. Minimum stock = 2 × Average monthly consumption Minimum stock = 2 × (7843)/(12) kg Minimum stock = (7843)/(6) kg Minimum stock ≈ 1307.17 kg The minimum stock is approximately 1307.17 kg. Send me the next one 📸