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Use the following information to solve problems 37-39: The daily demand (d) for the material is 2 tons, and the material is used 300 days of the year. The ordering cost (S) is $200, and the annual carrying cost (H) is $20. 37. How much is the optimal order quantity (EOQ)? a. Around 60 b. Around 80 c. Around 110 d. Around 150 a. 38. How much is the average inventory using an order quantity of 10 with a safety stock of 4? Around 7 b. Around 9 Around 11 d. Around 15 c. 39. What is the annual number of orders if the order quantity is 10? a. 40 b. 60 c. 80 d. 100 Use the following information in problems 40-43: A product is used an average of 100 lbs per day (d) and has a standard deviation (Cd) of 50 lbs per day. The lead time (L) required to receive an order is 9 days. 40. Determine the safety stock if the limit of the probability of a stockout and work stoppage is 4 percent (SL = 96%). Around 260 b. Around 290 Around 315 d. Around 330 a. c. a. 41. What service level would a safety stock (SS) of 300 lbs provide? Around 76% b. Around 88% Around 93% d. Around 98% C. 42. The supplier wants to switch from an EOQ policy to a periodic system (FOI) and transport the product only once in every week (T = 7 working days). The daily demand (d), standard deviation of daily demand (od), and lead time (L) are the same as above. The probability of a stockout is 4 percent (SL = 96%). What is the required safety stock? Around 270 Around 290 Around 320 Around 350 a. b C. d 43. What is the order quantity (9) if there are 1000 lbs on hand at the time of an order? a. Around 580 b Around 730 Around 950 d Around 1010 C