Standard normal table:

Only part b needs an answer

A golf specialty wholesaler operates 50 weeks per year. Management is trying to determine an inventory policy for its 1-irons, which have the following characteristics: > Demand (D) - 2,000 units/year > Demand is normally distributed > Standard deviation of weekly demand = 3 units > Ordering cost = $30/order > Annual holding cost (H) = $5.00/unit > Desired cycle-service level = 92% > Lead time (L) = 4 weeks Refer to the standard normal table for z-values. The table below shows the total area under the normal curve for a point that is Z standard deviations to the right of the mean. Z 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 2.0 2.1 2.2 0.00 0.01 0.02 0.03 0.04 0.05 0.06 0.07 0.08 0.09 0.5000 0.5040 0.5080 0.5120 0.5160 0.5199 0.5239 0.5279 0.5319 0.5359 0.5398 0.5438 0.5478 0.5517 0.5557 0.5598 0.5636 0.5875 0.5714 0.5754 0.5793 0.58320.58710.5910 0.5948 0.5987 0.6026 0.0064 0.0103 0.6141 0.61790.6217 0.6255 0.6293 0.6331 0.6388 0.6406 0.6443 0.6480 0.6517 0.65540.6591 0.6628 0.68640.6700 0.6736 0.6772 0.6808 0.68440.6879 0.6915 0.6950 0.6985 0.7019 0.7054 0.7088 0.7123 0.7157 0.7190 0.7224 0.7258 0.7291 0.7324 0.7357 0.7389 0.7422 0.7454 0.7486 0.75180.7549 0.7580 0.7612 0.78420.7673 | 0.77040.77340.7764 0.7794 0.7823 0.7852 0.7881 0.79100.7939 0.7967 0.7996 0.8023 0.8051 0.8079 0.8106 0.8133 0.8159 0.8186 0.8212 0.8238 0.8264 0.8289 0.8315 0.8340 0.8365 0.8389 0.8413 0.8438 0.8461 0.8485 0.8508 | 0.8531 0.8554 0.8577 | 0.8599 0.8821 0.8643 0.8665 0.8686 0.8708 0.8729 0.8749 0.8770 0.8790 0.8810 0.8830 0.8849 0.8869 0.8888 0.8907 0.8925 0.8944 0.89620.8980 0.8997 0.9015 0.9032 0.9049 0.9066 0.9082 0.9099 0.9115 0.9131 0.9147 0.9162 0.9177 0.91920.9207 0.9222 0.9236 0.9251 0.9265 0.9279 0.9292 0.9306 0.9319 0.93320.9345 0.9357 0.93700.93820.9394 0.9406 0.9418 0.9430 0.9441 0.94520.9483 0.9474 0.9485 0.9495 0.9505 0.9515 0.9525 0.9535 0.9545 0.9554 0.9584 0.9573 0.9582 0.95910.9599 0.9808 0.9816 0.9625 0.9833 0.9641 0.9649 0.9656 0.98640.9671 0.9678 0.9686 0.9693 0.9700 0.9706 0.9713 0.9719 0.9726 0.9732 0.9738 0.9744 0.9750 0.9756 0.9762 0.9767 0.97730.9778 0.97830.9788 0.9793 0.9798 0.98030.9808 0.98120.9817 0.9821 0.9826 0.9830 0.98340.9838 0.98420.9846 0.9850 0.9854 0.9857 0.9861 0.98650.9868 0.98710.98750.9878 0.9881 0.9884 0.9887 0.9890 2.3 2.4 2.5 2.6 2.7 2.8 2.9 3.0 0.9893 0.9896 0.9898 0.9901 0.99040.9906 0.9909 0.99110.99130.9916 0.9918 0.99200.99220.9925 0.9927 0.9929 0.9931 0.99320.9934 0.9936 0.9938 0.9940 0.9941 0.9943 0.9945 0.9940 0.9948 0.9949 0.9951 0.9952 0.9953 0.9955 0.9956 0.9957 0.99590.9980 | 0.9981 0.9962 0.99630.9984 0.9985 0.9986 0.9967 0.9968 0.9969 0.9970 0.9971 0.9972 0.9973 0.9974 0.99740.9975 0.9978 0.9977 0.9977 0.9978 0.9979 0.99800.99800.9981 0.9981 0.9982 0.99830.99830.99840.99840.9985 0.9985 0.9988 0.9986 0.9987 0.9987 0.99870.9988 0.9988 0.9989 0.9989 0.9989 0.9990 0.9990 0.9990 0.9991 0.9991 0.9991 0.9992 0.9992 0.9992 0.99920.9993 0.9993 0.9993 0.9993 0.99940.99940.99940.99940.99940.9995 0.9995 0.9995 0.9995 0.9995 0.9995 0.9995 0.9998 0.9998 0.9996 0.9996 0.9996 0.9997 3.1 3.2 3.3 a. If the company uses a periodic review system, P should be 4 weeks. (Enter your response rounded to the nearest whole number.) T should be 331 units. (Enter your response rounded to the nearest whole number.) b. If the company uses a continuous review system, R should be units. (Enter your response rounded to the nearest whole number.)