QUESTION 16 An inventory system answers two important questions: when to order and how much to order. Which of the following statements correctly explains a Q system (continuous review system) or a P system (periodic review system)? a. Under a P system, an order is placed to replenish the inventory position up to the target level Tevery P time period. b. Under a P system, a fixed quantity Qis ordered when the inventory position reaches the reorder point R. Under a Q system, a fixed quantity is ordered every time period. d. Under a Q system, an order is placed to replenish the inventory position up to the target level when the inventory position reaches the reorder point R QUESTION 17 Simple Moving Average: F Sum of lastn demands 1+0.0.2 +D+-+D 1 1 n n F Weighted Moving Average: (where D, is the most recent period, Dis Dext most recent, cle) =W WP.W.P2 +W D + ... +W D tar1 Exponential Smoothing: From EaD + (1 -a), It is the end of May and you must prepare a forecast for june for a certain product. The forecast for May was 1000 units. The actual demand for May was 900 units. You are using the exponential smoothing method with a - 040. The forecast for june falls into which range below? a greater than or equal to 975 units. b.greater than or equal to 950 units but fewer than 975 units. greater than or equal to 925 units but fewer than 950 units d. fewer than 925 units