Question: Question 2 5 points It is your responsibility, as the new head of the sports section of a Departmental Store, to ensure that reorder quantities

Question 2 5 points It is your responsibility, as the new head of the sports section of a Departmental Store, to ensure that reorder quantities for the various items have been correctly established. You decide to test one item and choose Yonex racket. A fixed quantity inventory system has been used, so you examine this, as well as other records, and come up with the following data. Because customers generally do not wait for rackets but go elsewhere, you decide on a service probability of 98 percent (assume a Z-score of 2.3). Assume the demand occurs 365 days per year. Determine the order quantity and the reorder point. Cost of racket $50 Annual Holding cost 15% of racket cost Demand 2000 per year Ordering cost $35 per order Standard deviation of daily demand 2 rackets Delivery lead time 5 days Arial 3 (12) T BIX

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