Question: please answer both questions Question 6 (2.5 points) Daily demand for a product is normally distributed with a mean of 115 and a standard deviation

please answer both questions

Question 6 (2.5 points) Daily demand for a product is normally distributed with a mean of 115 and a standard deviation of 10. Assume sales occur over 275 days per year. Find the order quantity for a 97.128% probability of not stocking out during lead time. Lead time is constant at 7 days. The cost of placing an order is $19 and annual holding cost is $3 per unit. 633 864 597 975 Question 7 (2.5 points) What is the re-order point for problem 6? 330 857 505 575

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Question 27 (2.5 points) Daily demand for a product is normally distributed with a mean of 115 and a standard deviation of 12. Assume that sales occur over 300 days per year. Find the order quantity...

Consider the following item that is being managed using a fixed-time period model with safety stock. Weekly demand =95 units, safety stock =28 units, review cycle =4 weeks, operate 48 weeks per year....

Question 19 (1 point) Daily demand for a product is normally distributed with a mean of 95 and a standard deviation of 8. Assume sales occur over 250 days per year. Find the order Quantity for a...

Chapter 6 part 2 practice Question 1 Suppose x is a normal random variable with mean 60 and standard deviation 2. A z score was calculated for a number, and the z score is -1.3. What is x? 58.7 61.3...

Average daily demand for a product is normally distributed with a mean of 6 units and a standard deviation of 1 units. Lead time is fixed at four days. What is the reorder point if there is no safety...

Average daily demand for a product is normally distributed with a mean of 5 units and a standard deviation of 1 units. Lead time is fixed at four days. What is the reorder point if there is no safety...

Please solve this question in excel. 1) Drugco needs to determine the proper capacity level for a new drug, Niagara. It costs $10 to build enough capacity to produce one unit of drug per year. All...

Question 6 (2.5 points) Saved Daily demand for a product is normally distributed with a mean of 115 and a standard deviation of 10. Assume sales occur over 275 days per year. Find the order quantity...

The three basic business forms are sole proprietorship, partnership, and corporation. How is each of these formed? How is each owned? How does each form allocate the risk associated with doing...

Find the values of x for which the function is continuous f (x) = 12-11 0 O All real numbers O None of these O (-, 1) U (1, 0)

2 of 9 0 Concepts completed ( i ) Multiple Choice Question Which of these structures is covered by thin skin? Soles of feet Fingertips Palms of hands Toe tips Forearm Need help? Review these concept...

Read the articles on journaling and review the template provided. Identify what approach, to journaling, in the articles you found useful and why. Post to the discussion forum that you have reviewed...