Question: PLEASE EXPLAIN HOW TO DO IT AND HOW TO USE THE EXCEL SHEET FOR IT IF NEEDED The local supermarket buys lettuce each day to

PLEASE EXPLAIN HOW TO DO IT AND HOW TO USE THE EXCEL SHEET FOR IT IF NEEDED

PLEASE EXPLAIN HOW TO DO IT AND HOW TO USE THE

The local supermarket buys lettuce each day to ensure really fresh produce. Each morning, any lettuce that is left from the previous day is sold to a dealer that resells it to farmers who use it to feed their animals. This week, the supermarket can buy fresh lettuce for $2.00 a box. The lettuce is sold for $8.00 a box and the dealer that sells old lettuce is willing to pay $1.00 a box. Past history says that tomorrow's demand for lettuce averages 220 boxes with a standard deviation of 30 boxes. How many boxes of lettuce should the supermarket purchase tomorrow? (Use Excel's NORMSINVO) function to find the correct critical value for the given a-level. Do not round intermediate calculations. Round your answer to the nearest whole number.) Number of boxes Problem 20-12 (Algo) Ray's Satellite Emporium wishes to determine the best order size for its best-selling satellite dish (model TS111). Ray has estimated the annual demand for this model at 2,000 units. His cost to carry one unit is $110 per year per unit, and he has estimated that each order costs $22 to place. Using the EOQ model, how many should Ray order each time? (Round your answer to the nearest whole number.) Optimal order quantity units

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