Question: The demand for a certain product is random. It has been estimated that the monthly demand of the product has a normal distribution with a

The demand for a certain product is random. It has been estimated that the monthly demand of the product has a normal distribution with a mend of 390units. The unit price of product is $25. Ordering cost is $40 per order and inventory carrying cost is estimated to be 35 percent per year. Calculate economic order quantity (EOQ).

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