New Wave Electronics prides itself in having all the latest tech on the shelves. Recently a new model of fitness tracker has come out and the manager needs to decide how many the company should order. Fitness Trackers can go obsolete quickly because new models are constantly being revealed. Once a new model is released, any remaining stock must be discounted and sold at a loss. The company can purchase the fitness trackers for $$150$ a piece from the manufacturer and they sell them for $$250.$ Demand for previous releases of new fitness trackers has averaged $560$ units with a standard deviation of $80$ units and been normally distributed. The typical discount price of old models is $$75.$

Question at position $1$

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Question at position $1$

What is the cost of shortage for the fitness trackers?

What is the cost of shortage for the fitness trackers?

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Question at position $2$

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Question at position $2$

What is the cost of excess for fitness trackers?

What is the cost of excess for fitness trackers?

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Question at position $3$

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Question at position $3$

What is the Optimal Service Level for the fitness trackers? Enter your response as a decimal with $2$ decimal places.

What is the Optimal Service Level for the fitness trackers? Enter your response as a decimal with $2$ decimal places.

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Question at position $4$

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Question at position $4$

How many fitness trackers should New Wave order if they want to meet the desired service level?

How many fitness trackers should New Wave order if they want to meet the desired service level?