For the same problem in Q$1,$ now we want to implement a periodic

inventory control policy. The company decides to monitor inventory every month and order accordingly.

a$)(15$ points$)$ Type $1$ Service level based approach: Assuming that the company

wants to achieve a $99\%$ service level in meeting demand, what would be the

Base$-$Stock$-$Level for this policy?

b$)(5$ points$)$ What are the average costs related to holding, setup $($ordering$),$ and

stock outs for this inventory control policy.

c$)(5$ points$)$ How does the cost of this policy compare to other policies in Q$1,$ and

Q$2?$ Is it higher? Lower? What changed in the costs?