Question: Problem No. 2 Calculate the total cost (ordering (not acquisition) and carrying cost) over the course of a year of an item for which there

Problem No. 2 Calculate the total cost (ordering

Problem No. 2 Calculate the total cost (ordering (not acquisition) and carrying cost) over the course of a year of an item for which there is an average annual demand of 2000 units, with a variance of 10,000. Placing each order costs $35. The value of the item is $85, the annual inventory carrying percentage is 20%. The analysis should be ased on ordering the optimal quantity each time that you order. Also determine the probability of demand exceeding 2050

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