Need assistance in solving this problem using excel. please show templates and formulas on how yo solve the problem. **Dave's Auto Supply Inventory Management****Overview:**Dave’s Auto Supply custom mixes paint for its customers. The shop performs a weekly inventory count of the main colors used for mixing paint.**Inventory Data:**- **Average weekly demand:** 17 gallons- **Standard deviation of demand:** 6 gallons/week- **Desired service probability:** 98%- **Current inventory:** 35 gallons- **Lead time:** 1 week**Instruction:**Determine the amount of white paint that should be ordered using the above information. **Calculation Instructions:**(Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Do not round intermediate calculations. Round "z" value to 2 decimal places and final answer to the nearest whole number.)**Input:**- **Amount of white paint:** _______ gallons

As specified above solved this problem using Excel and Here are the Excel formulas:

Dave's Auto Supply custom mixes paint for its customers. The shop performs a weekly inventory count of the main colors used for mixing paint. Average weekly demandi Standard deviation of demand Desired service probability Current Inventory Lead time 17 gallons 6 gallons/week 98% Amount of white paint 35 gallons 1 week Determine the amount of white paint that should be ordered using the above information: (Use Excel's NORMSINV() function to find the correct critical value for the given a-level. Do not round intermediate calculations. Round "2" value to 2 decimal places and final answer to the nearest whole number.) gallons

Dave's Auto Supply custom mixes paint for its customers. The shop performs a weekly inventory count of the main colors used for mixing paint. Average weekly demandi Standard deviation of demand Desired service probability Current Inventory Lead time 17 gallons 6 gallons/week 98% Amount of white paint 35 gallons 1 week Determine the amount of white paint that should be ordered using the above information: (Use Excel's NORMSINV() function to find the correct critical value for the given a-level. Do not round intermediate calculations. Round "2" value to 2 decimal places and final answer to the nearest whole number.) gallons

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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