Question Completion Status: Click Submit to complete this assessment. tion of estions points It is your responsibility, as the new head of the automotive section of Nichols Department Store, to ensure that tender quantities for the various items have been correctly established. You decide to test one item and choose Michelin tires, MC300. 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 tires but yo 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 per tire Holding cost Demand Ordering cost Standard deviation of daily demand Delivery lead time $35 each 20 percent of tire cost per year 1.000 per year $20 per order 3 tires 4 days Q Arial 3 (120) + T. III 1 Path: P