7. Problem 11-15 (Algo) 10 points Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year. PARAMETER VALUE PARAMETER VALUR Tton cout 11.00 standard deviation of weakly demand 25 per week Order cont $270.00 tead time veek Annual holding cost 371 of Item cost Service probability Annual demand 23,400 xverage weekly demand 468 per week Determine the order quantity and reorder point (Use Excel's NORM.S.INVO) function to find the value. Round x value to 2 decimal places and final answer to the nearest whole number.) Answer is complete and correct. Optimal order quantity Reorder point 1,762 units 1475 units b. Determine the annual holding and order costs. (Round intermediate calculations to 2 decimal places. Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Holding cost Ordering cost 3,585.67 units 2,138.52 units C. Assume a price break of $60 per order was offered for purchase quantities of 2,300 or more units per order. If you took advantage of this price break, how much would you save annually? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Annual savings $ 1,449.18