Question: a. Determine the missing data (you can use normal curve area table) (0.6 points) P(Z Sz-value) z-value 0.00 12.3% 99.83% 1.27 -1.27 87.4% Recall from

a. Determine the missing data (you can use normal

a. Determine the missing data (you can use normal curve area table) (0.6 points) P(Z Sz-value) z-value 0.00 12.3% 99.83% 1.27 -1.27 87.4% Recall from Quiz #6, A hamburger joint estimates the cost of ordering a raw material to be $54 per order excluding the cost of inspection. FDA performs this inspection for every order with per order cost of $12, which is independent to the order quantity of that particular raw material and this inspection is mandatory by law. The monthly demand is 3000 weight units. Purchase value per weight unit is $150. The joint buys its raw material on credit bounded by a bank, which charges 24% nominal yearly interest rate, compounding monthly. Last month's applicable direct storage, climate control, insurance, taxes, pilferage, deterioration and spoilage summed 14% on raw material. The supplier delivers this raw material in package of 6 weight units per pack. The joint works 30 days a month (in average). It is also determined from Quiz # 6 solution that: The Economic Order Quantity, EOQ = 126 wt. units / order and Associated total inventory cost (TC) of $ 453,083.43 / month. b. With one-day lead-time, it is observed that the daily demand behaves with a normal distribution and has a variance of 25 unit/day? If the joint wants 95% service level, what must be the reorder point? (write your answer with proper format) (0.8+0.2+0.2 points) Continuing from part-b, what is the Net Inventory Cost (i.e., updated Total Inventory Cost)? (0.2 points) C

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