Question: The average daily demand for a product is normally distributed with a mean of 28 units and a standard deviation of 6 units. Lead time

The average daily demand for a product is normally distributed with a mean of 28 units and a standard deviation of 6 units. Lead time is fixed at 22 days. Answer the following questions. Use approporaite formulae and tables. Show your calculations for each question. No credit is earned for answers without calculations.

a) How much safety stock is needed if you are willing to have a stockout occur no more than 4% of the time?

b) What is the reorder point?

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