Question: Please solve it within 30 minutes need final answer don't need whole calculations QUESTION 1 Questions 1 to 8 refer to the following situation. Once


Please solve it within 30 minutes need final answer don't need whole calculations
QUESTION 1 "Questions 1 to 8 refer to the following situation. Once upon a time in a galaxy far, far way... a smuggler named Captain Han Solo flew the starship Millennium Falcon (MF). The MF was known for its speed but not its reliability (its warp drive broke down frequently). Han Solo kept on hand a supply of the part that broke most often, a type-H1Q circuit breaker. On average, 5 such H1Q circuit breakers fail every day. Circuit breakers are nonperishable inventory items and there is ample space in the MF's storage room to hold as many as Solo can buy at once. However, whenever he runs out of H1Q circuit breakers, he needs to fly to the spaceport Mos Eisley on planet Tatooine to restock H1Qs. No matter where he is in the galaxy, it costs him $925 in fuel to fly to Mos Eisley. (For now, completely ignore the cost of his time; the MF is a fast ship! On the other hand, H1Qs are not cheap. They cost $6593 each. Solo has sufficient cash in the bank to purchase any quantity of H1Qs. His bank account pays 0.10% (or 0.001) daily interest rate (i.e., every day that Han Solo holds one HiQ in storage, it costs him $6593*0.001 in missed daily interest). When Solo reaches his reorder point, how many H1Qs should be ordered to minimize Solo's H1Q inventory-related costs? Enter a number rounded to the nearest integer." QUESTION 2 Han Solo doesn't like taking time off from helping the Galactic Alliance to fly to Mos Eisley to resupply circuit breakers. He decides to ignore the order quantity that you recommended in the prior question, and instead he doubles that order quantity. Which of the following costs will rise? (There are multiple correct answers; select only the correct ones.) O Annual cost of carrying safety stock. O Annual "ordering costs" (fuel costs) of replenishing circuit breakers. O Annual costs of stocking out of circuit breakers. Annual opportunity costs of holding inventory of circuit breakers. O Annual total inventory-related costs. QUESTION 3 "Recall that the Millennium Falcon needs 5 new circuit breakers every day. That's on average of 5 per day, with standard deviation 2.360 per day due to fluctuations in daily demand.) When he reaches his reorder point, it takes 1 day to fly to Mos Eisley to pick up additional units. In other words, the lead time to resupply inventory is 1 day. Stockouts are very costly and so Solo would like a 99.9% service level when he reaches his circuit breaker reorder point. (A 99.996 service level means that a reorder point needs to be z = 3.09 standard deviations above the mean "demand during the lead time.) Given this information, what reorder point would you recommend Han Solo use? Enter a number rounded to the nearest integer." QUESTION 4 Han Solo would like to drop the service level from 99.9% to 95%. Is the following statement true or false? The reorder point will increase. O True FalseStep by Step Solution
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