Question: Using the fixed-time period inventory model, and given an normally distributed daily demand of mean 120 units and standard deviation 10 units, 1 week between

Using the fixed-time period inventory model, and given an normally distributed daily demand of mean 120 units and standard deviation 10 units, 1 week between inventory reviews, 3 days for lead time, 113 units of inventory on hand, a target service level of 98%, what is the optimal order quantity?

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