Question: Answer in excel and show how to do it if possible Northwoods Living is a country store specializing in knickknacks suitable for a farm-house decor.

Answer in excel and show how to do it if possible
Northwoods Living is a country store specializing in knickknacks suitable for a farm-house decor. One item experiencing a considerable buying frenzy is a miniature a Holstein cow. Average weekly demand is 40 cows, with a standard deviation of 5 cows. The cost to place a replenishment order is $15 and the holding cost is $1.25/cow/year. The supplier, however, is in China. The lead time for new orders is 7 weeks, with a standard deviation of 2 weeks. Northwoods Living, which is open only 50 weeks a year, wants to develop a continuous review inventory system for this item with a cycle-service level 85 percent. Refer to the standard normal table for z-values. a. Specify the continuous review system for the cows. What order quantity should be used? cows. (Enter your response rounded to the nearest whole number.) What reorder point should be used? cows. (Enter your response rounded to the nearest whole number.) b. What is the total annual cost for the system you developed? $(Enter your response rounded to two decimal places.)Step by Step Solution
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