Question: Question 5 1 pts An item is managed under a continuous review inventory policy. Daily demand for the item normally distributed with a mean 20

Question 5 1 pts An item is managed under a continuous review inventory policy. Daily demand for the item normally distributed with a mean 20 and standard deviation 7.2. The Lead time averages 7 days with a standard deviatio of 2.0. The target service level for the item is 95%. What is the reorder point? Enter your answer rounded to the nearest whole number Question 6 1 pts An item sells for $12.34 and has a cost of $3.71. The cost to dispose of unsold items is $1 and the salvage value for left over items is $0. The demand for the item is normally distributed with a mean of 4 and a standard deviation of 6. What is the Shortage Cost associated with this item? Enter your answer to 2 decimal places

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