Short answer questions (a) (0.5 points) Briefly explain what rationing and shortage gaming mean, and how the firms should address this problem. (b) (0.5 points) State whether you agree or disagree with the following statement and briefly explain your reasoning: A local grocery store uses order-up-to policy to manage its inventory of milk. Suppose the milk supplier now offers a shorter lead time and the store wants to reduce the stock-out probability of milk. With all other relevant parameters unchanged, the store's order-up-to level would be higher. (c) (0.5 points) What is the most interesting thing you learned from this course? (d) (1 point) Read the following description, and determine Apple's corporate strategy, business strategy, and operations strategy. "Today, Apple is at a crossroads. Under CEO Tim Cook, Apple's ability to seize on emerging technology raises many new questions.Primarily, what's next for Apple? Looking for the next wave, Apple is clearly expanding into augmented reality and wearables with the Apple Watch and AirPods wireless headphones. Apple's Home- Pod speaker system is poised to expand Siri's footprint into the home and serve as a competitor to Amazon's blockbuster Echo device and accompanying virtual assis- tant Alexa. The inclusion of operations at the earliest stages is very important. To achieve these goals, Apple is focusing on innovative products, ease of use and sleek design giving an aesthetic appeal. No matter how beautiful its products are, the company would go nowhere without a world-class manufacturing and distribution operation that can make millions of devices, to the highest possible standards, and deliver them efficiently all over the globe