Question $11,$ Problem $22$

HW Score: $76\mathrm{.}67\%,15\mathrm{.}33$ of $20$

Part $2$ of $3$

points

Points: $0$ of $2$

Osprey Sports stocks everything that a musky fisherman could want in the Great North Woods. A particular musky I has been very popular with local fishermen as well as those who buy lures on the Internet from Osprey Sports. The to place orders with the supplier is $$\frac{40}{?}$ order; the demand averages $3$ lures per day, with a standard deviation of $1$ I and the inventory holding cost is $$\frac{1\mathrm{.}00}{?}$ lure$/$year$.$ The lead time form the supplier is $9$ days, with a standard deviatio $2$ days. It is important to maintain a $95$ percent cycle$-$service level to properly balance service with inventory holding costs. Osprey Sports is open $350$ days a year to allow the owners the opportunity to fish for muskies during the prim season. The owners want to use a continuous review inventory system for this item. Refer to the standard normal ta for $z-$values.

a$.$ What order quantity should be used? ${290}^{\text{'}}$ lures. $($Enter your response rounded to the nearest whole number.$)$

b$.$ What reorder point should be used?

lures. $($Enter your response rounded to the nearest whole number.$)$