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Table 14.1 The Distribution Function, Az), and the Inventory Function, Kz), for the Standard Normal Distribution Function Fiz) 1(z) .0000 0.0000 WA ,0000 0.0000 .0001 0.0000 .0001 0.0000 .0002 0.0000 0002 0.0001 3.4 .0003 0.0001 -3.3 .0005 0.0001 .0007 0.0002 . -3.2 3.1 .0010 0.0003 .0013 0.0004 -3.0 -2.9 2.8 .0019 0.0005 .0026 0.0008 2.7 .0035 0.0011 .0047 0.0015 .0062 0.0020 .0082 0.0027 .0107 0.0037 0139 0.0049 -2.2 - -21 -2.0 .0179 0.0065 .0228 0.0085 .0287 0.0111 -1.8 .0359 0.0143 .0446 0.0183 .0548 0.0232 -1.5 .0668 0.0293 .0808 0.0367 .0968 0.0455 .1151 0.0561 .1357 0.0686 -1.0 1587 0.0833 0.0833 1537 1841 0.1004 12119 0.1202 0 2420 0.1429 -0.6 12743 C.1687 -05 3085 C978 3446 C2304 3821 0266 4207 03068 .4602 0.3509 15000 5398 0.450S 15793 0.5069 6179 0.5668 5554 0.5304 6915 0.6978 7257 07687 7580 0.8429 7881 0.9202 18159 10004 1843 1.0333 8643 1.166 1.2551 8849 9032 1.23455 9192 1.4367 9332 1,5293 9452 1.6232 9554 1.7183 19641 11.8143 19713 1911 372 2.0085 9221 2.1065 981 2.2049 19893 2.3037 9918 2.4027 19953 2.605 1965 2.701 19974 2.2008 9981 2.9005 9987 3.0c04 19990 3.1003 1993 3.2002 19995 301 9997 34001 19998 3.5001 1998 3.6000 999 3000 199 1.8000 .C000 3.9000 1,0000 4.0000 PA 14.5 (Algo) You are the owner of Hotspices.com, an online retailer... Use Table 14.1 You are the owner of Hotspices.com, an online retailer of hip, exotic, and hard-to-find spices. Consider your inventory of saffron, a spice (generally) worth more by weight than gold. You order saffron from an overseas supplier with a shipping lead time of three weeks and you order weekly. Average weekly demand is normally distributed with a mean of 36 ounces and a standard deviation of 31 ounces. Use Table 14.1. Round your calculated z value to the nearest 0.1 increment. Round your answer to the nearest integer. a. Suppose it uses an order-up-to level of 295 ounces. What is its expected on-hand inventory? Round your answer to the nearest integer. b. Suppose it uses an order-up-to level of 275 ounces. What is its expected on-order inventory? Use Table 14.1. Round your calculated z value to the nearest 0.1 increment. Round your answer to 4 decimal places. c. Suppose it uses an order-up-to level of 373 ounces. What is its in-stock probability? Use Table 14.1. Choose the z value with a cumulative probability AT LEAST as high as the required in-stock probability (e.g., if in-stock probability is 0.92, use z = 1.5 instead of z = 1.4). Round your answer to the nearest integer. d. Suppose it wants a 0.99 in-stock probability. What should its order-up-to level be