Question: QUESTION 31 Quantitative Question (Write legibly; Credit will be given only if appropriate work is done.) A shop owner uses a reorder point approach to

QUESTION 31 Quantitative Question (Write legibly; Credit will be given only if appropriate work is done.) A shop owner uses a reorder point approach to restocking a certain raw material. Lead time is 7 days, Usage of the material during lead time is normally distributed with a mean of 50 pounds and a standard deviation of 8 pounds. When should the raw material be reordered if the acceptable risk of a stockout is 5 percent

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