The change in variables by changing the values of parameters is studied in EOQ model for hazardous items of two-parameter exponential distribution with a constant hazardous rate. The rate of demand is uniform and rate of replenishment is instantaneous. Shortages are allowed and to be back logged. The average total cost is minimized to decide the time of production run. Hence the economic lot size is obtained. The result is illustrated by various numerical examples with graphs and tables. In different situations, the correlation between all the parameters and variables are calculated by the Karl-Pearson’s coefficient of correlation.
Keywords: – Correlation, EOQ model, infinite rate of production, shortages, hazardous items.
Anil Kumar Sharma, Raish Muhammad