Question: Consider a retailer's inventory problem over multiple time periods. Assume the per-unit holding cost is $10 and the per-unit backlogging cost is $30. Demand in

Consider a retailer's inventory problem over multiple time periods. Assume the per-unit holding cost is $10 and the per-unit backlogging cost is $30. Demand in every time period is normally distributed with mean 100 and standard deviation 10. The beginning inventory of period 1 is equal to 100. Assume every order placed at the end of each period will arrive at the beginning of the next period. Build the Excel-based Monte Carlo simulation spreadsheet to test the optimal inventory ordering policy that minimizes the total holding and backlogging costs in expectation. Please attach your Excel file in your email submission.

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