(Q4) (6) You realize that the past customer demand data values are actually sales volumes instead...

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(Q4) (6) You realize that the past customer demand data values are actually sales volumes instead of true demand. Thus, as a consultant, you decide to explain the importance of demand unconstraining process in the future forecast tasks in the client company. For more accurate future "demand" forecasts, list up 2 reasons that we should not use past "sales" data without careful processing. (Q5) (6) They want to develop their approximate inventory management plan from year 2023 in the new market after they start a long-term business there. They consider a fixed-quantity ordering model by which they place an order of the same quantity each time. They guess that monthly demand is uniformly distributed in [200,400] and independent between months. When the transportation lead time to the new market is 1 month, what is the optimal reorder point to achieve 90% service level for the uncertain demand? (Q6) (6) They also ask you to analyze their production quality for an oil product. In each 1 kg of this product, a specific chemical element's weight in gram should be in the range of [0.99,1.01] according to their quality specification. You take many samples over time and find that the sample weight follows a normal distribution with the mean = 1.002 gram and the standard deviation = 0.004 gram. (Q6-1) (3) What is the process capability index for this production process? (Q6-2) (3) What is the probability that they produce defective oil? (Hint: For a normal random variable X, Pr(|X-|>) = 31.73%, Pr(|X-|>20) = 4.55%, Pr(|X-|>3) = 0.27%.) (Q4) (6) You realize that the past customer demand data values are actually sales volumes instead of true demand. Thus, as a consultant, you decide to explain the importance of demand unconstraining process in the future forecast tasks in the client company. For more accurate future "demand" forecasts, list up 2 reasons that we should not use past "sales" data without careful processing. (Q5) (6) They want to develop their approximate inventory management plan from year 2023 in the new market after they start a long-term business there. They consider a fixed-quantity ordering model by which they place an order of the same quantity each time. They guess that monthly demand is uniformly distributed in [200,400] and independent between months. When the transportation lead time to the new market is 1 month, what is the optimal reorder point to achieve 90% service level for the uncertain demand? (Q6) (6) They also ask you to analyze their production quality for an oil product. In each 1 kg of this product, a specific chemical element's weight in gram should be in the range of [0.99,1.01] according to their quality specification. You take many samples over time and find that the sample weight follows a normal distribution with the mean = 1.002 gram and the standard deviation = 0.004 gram. (Q6-1) (3) What is the process capability index for this production process? (Q6-2) (3) What is the probability that they produce defective oil? (Hint: For a normal random variable X, Pr(|X-|>) = 31.73%, Pr(|X-|>20) = 4.55%, Pr(|X-|>3) = 0.27%.)