Question: A store uses a periodic inventory model. It places orders every twenty-one days and has a shipment lead time of fur days. The daily demand,

A store uses a periodic inventory model. It places orders every twenty-one days and has a shipment lead time of fur days. The daily demand, d, is normally distributed with a mean of 50 units and standard deviation of 18 units. At a certain order-placing episode it determines that it has 268 units in stock; what should be his order amount? What would be your estimate of its average maximum inventory and average minimum inventory?

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