Question: In using Continuous Review Policy for an inventory, it is given that the average weekly demand of iPhone 7 is 44.58, the Standard deviation of

In using Continuous Review Policy for an inventory, it is given that the average weekly demand of iPhone 7 is 44.58, the Standard deviation of weekly demand is 32.08. The fixed ordering cost is $4,500, the Cost of one iPhone7 is $250. The Annual inventory holding cost is 18% of the product cost; Replenishment lead time is 2 weeks what would be the average inventory level? State all your assumptions carefully.

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