Write in a different words: From this exercise, we learned how to use statistical methods to optimize inventory management decisions in a real-world business scenario. Specifically, we learned how to use the normal distribution to model demand, and how to calculate the expected profit for different order quantities and service levels. We also learned how to use Excel to perform these calculations, and how to analyze the impact of changes in key input variables (such as the standard deviation of demand) on expected profit. This exercise highlights the importance of accurate demand forecasting and effective inventory management in maximizing profits for a business. Overall, this exercise provides a practical application of statistical and analytical tools in a business context, which can be valuable for students and professionals alike