4 Petromax Enterprises uses a continuous review inventory control system for one of its SKUs. The following information is available on the item. The firm operates 48weeks in a year. Refer to the standard normal table for z-values.> Demand = 83,200 units/year> Ordering cost = $32.50/order> Holding cost = $2.50/unit/year> Average lead time = 4 weeks> Standard deviation of weekly demand = 200 unitsa. The economic order quantity for this item is units. (Enter your response rounded to the nearest whole number.)b. If Petromax wants to provide a 99% service level, the safety stock isunits (enter your response rounded to the nearest whole number).units (enter your response rounded to the nearest whole number) and the reorder point is

Demand (D)= 83,200 units/yearOrdering cost (S) = $32.50/orderHolding cost (H) =…

Answered: Petromax Enterprises uses a continuous…

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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