Problem 2 A perishable dairy product is ordered daily at a particular supermarket. The product which costs S1.19 per unit, sells for $1.65 per unit. If units are unsold at the end of the day, the supplier takes them back at a rebate of $1 per unit Assume that daily demand is approximately normally distributed with u = 150 and 6 = 30. a. What is your recommended daily order quantity for the supermarket? b. What is the probability that the supermarket will sell all the units it orders? c. In problems such as these, why would the supplier offer a rebate as high as $1? For example, why not offer a nominal rebate of, say, 25 per unit? What happens to the supermarket order quantity as the rebate is reduced? You will be asked to enter specific numbers that you calculated to solve this problem in the online questions, a. Problem 3 Megapixel is a high tech firm that makes various models of personal printers. It costs $ 1,500 to setup the production line for a specific model. The annual cost to store the printers in inventory is S6 per piece. The annual demand for 3-in-1 printers is 30,000 pieces and the firm has the capacity to produce 70,000 printers annually. The firm operates 250 days a year. Determine the optimal production quantity for the 3-in-1 model b. What is the maximum inventory held? How many batches of this model they will produce in one year? What is the total annual inventory cost for this model? At what rate inventory for this model is being replenished? Other models are produced in the same production line. When a batch of 3-in-1 model is completed, how much time we can allocate the production line for another model without disturbing our cycles for the 3-in-1 model? You will be asked to enter your answers in the online questions. c. d. e. f