5. You are the operations manager of a firm that uses the continuous review inventory control system. Suppose the firm operates 252 days a year and has the following characteristics for its primary item: Demand = 25,000 units/year Ordering cost = $31/order Holding cost = $1/unit/year Lead time = 4 days Standard deviation in daily demand = 9 units What is the expected time between orders (T) per year (to the nearest whole number)?

6. You are the operations manager of a firm that uses the continuous review inventory control system. Suppose the firm operates 252 days a year and has the following characteristics for its primary item: Demand = 25,000 units/year Ordering cost = $16/order Holding cost = $3/unit/year Lead time = 4 days Standard deviation in daily demand = 7 units What is the total setup cost per year (to the nearest whole number)?

7. You are the operations manager of a firm that uses the continuous review inventory control system. Suppose the firm operates 252 days a year and has the following characteristics for its primary item: Demand = 25,000 units/year Ordering cost = $11/order Holding cost = $1/unit/year Lead time = 4 days Standard deviation in daily demand = 6 units What is the total holding cost per year, including antual holding cost for safety stock (to the nearest whole number)? (Service level=95%)

8. A local food processing firm uses (demand) 24,000 glass jars to produce gourmet jams and jellies per year. It costs the firm $60 each time it places an order for jars with the manufacturers. The inventory holding cost is $0.8 per jar per year. The stock is received 4 working days after an order has been placed. No backorders are allowed. Because of space limitations, suppose the firm orders 17000 jars at a time. What would be the annual cost saved by shifting from the 17000-jars order policy to the EOQ? (Please round your calculations to the nearest whole number.)