Question: Please solve with steps, thank you. A store sells coffee mugs. Daily demand is 25 mugs with a standard deviation of 4 mugs per day.

Please solve with steps, thank you.

A store sells coffee mugs. Daily demand is 25 mugs with a standard deviation of 4 mugs per day. Each mug costs $7.85. Ordering costs are $11. The carrying costs are 2 per year. The store is open 250 days per year. Lead time is 4 days with a standard deviation of 1.6 days. Desired service level is 98%. Calculate the ROP with safety stock.

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