Question: Problem 11-29 (Static) A distributor of large appliances needs to determine the order quantities and reorder points for the various products it carries. The following

Problem 11-29 (Static) A distributor of large appliances needs to determine the order quantities and reorder points for the various products it carries. The following data refer to a specific refrigerator in its product line: Cont to place an order Holding cost Cout of refrigerator Annual demand Standard deviation of demand during lead time Lead time $ 100/order 20 percent of product cost per year $500/unit 500 unit 10 unita 7 days Consider an even daily demand and a 365-day year. a. What is the economic order quantity? (Round your answer to the nearest whole number) Economic order quantity refrigerators b. If the distributor wants a 97 percent service probability, what reorder point, R, should be used? (Use Excel's NORM.S.INVO functie to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number.) Reorder point refrigerators

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