Question: A retail store wants to optimize its inventory levels for a specific product based on demand variability. The store manager needs to determine the optimal

A retail store wants to optimize its inventory levels for a specific product based on demand variability. The store manager needs to determine the optimal reorder point and order quantity to minimize stockouts while avoiding excessive inventory costs. Simulate the daily demand for the product using a normal distribution. Assume that the daily demand follows a normal distribution with a mean of

50

units and a standard deviation of

15

units.

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