P$13\mathrm{.}3($LO $3,4),$ AP EXCel You recently overheard that your company's competitors have started to purch average costs you find from the sellers on the online marketplace at the end of December $2020.$ Here are the

Online Marketplace Material usage data set.

Material$\_$ID: a unique identifier for each raw material.

Product$\_$ID: a unique identifier for each product.

Standard$\_$usage: the standard usage of materials for a specific product.

Online Marketplace Price data set.

Standard$\_$price: the standard pushasing price for one unit of each raw material.

Material$\_$ID: a unique identifier for each material.

Grade$\_$main: the grade level of the material. $($Note: The company only keeps materials with grade ler

Quantity on hand: the number of units of the raw material on hand in inventory.

Marketplace vendor: vendor for raw materials on the online marketplace.

Avgtransactionprice: average transaction price per unit for a specific vendor and a specific raw mat

Required

Use the Online Marketplace data sets available in Wiley Course Resources to answer the following questions :

a$.$ If the company had purchased all of its materials from the online marketplace, what inventory cost woul

b$.$ If the company can freely choose the lower of the standard price or the average price in the online mark

c$.$ Is there a particular marketplace vendor that always sells at a price lower than the standard price?

d$.$ Based on your observations in $($a$)$ and $($b$),$ can you explain why the competitors are switching to the onl

Evaluate data to determine adequacy of raw material inventory quantity.