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Sharp, Inc., a company that markets painless hypodermic needles to hospitals, would like to reduce its inventory cost by determining the optimal number of hypodermic needles to obtain per order. The annual demand is 100,000 needles; the ordering cost is $50 per order; and the holding cost per needle per year is $.50. The price for each needle remains the same regardless of the quantity ordered. The appropriate model for Sharp to use to determine the order quantity is the inventory model. price-break single-period fixed-time period basic fixed-order quantity Assume you are calculating a safety stock quantity and the z value you are using to calculate the safety stock is a negative number, what does this tell you about the service level you are providing your customers? The service level will be 0%. The service level will be between 0 and 100%. The service level will be 50%. The service level will be less than 50%. Which of the following is not an assumption of the basic fixed-order quantity inventory (Q) model? Lead time is constant Demand for the product is uniform throughout the period Inventory holding cost is based on average inventory Ordering or setup costs are constant Backorders are allowed