Question: need help please A local service station is open 7 days per week, 365 days per year. Sales of 10 w 40 grade premium oil

need help please

A local service station is open 7 days per week, 365 days per year. Sales of 10 w 40 grade premium oil average 35 cans per day. Inventory holding costs are $0.80 per can per year. Ordering costs are $10 per order. Lead time is two weeks. Backorders are not practical-the motorist drives away. a. Based on these data, calculate the economic order quantity and reorder point. Hint: Assume demand is deterministic. (Round your answers to the nearest whole number.) b. The boss is concemed about this model because demand really varies. The standard deviation of demand was detemmined from a data sample to be 5.35 cans per day. The manager wants a 90 percent service probability. Determine a new inventory plan based on this information and the data in a. Use Qopt from a. (Use Excel's NORMSINV0 function to find the correct critical value for the given o-level. Do not round intermediate calculations. Round " 2 " value to 2 decimal places and final answer to the nearest whole number.)

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