Just need final answer don't need whole calculations solve in 30 minutes please QUESTION 1"Questions 1 to 8 refer to the following situation. Once upon a time in a galaxy far, far way. a smuggler named Captain Han Solo flew the starshipMillennium Falcon (MF). The MF was known for its speed but not its reliability (its warp drive broke down frequently). Han Solo kept on hand a supply ofthe part that broke most often, a type-H1Q circuit breaker. On average, 5 such H1Q crcuit breakers fail every day. Circuit breakers are nonperishableinventory items and there is ample space in the MF's storage room to hold as many as Solo can buy at once. However, whenever he runs out of H1Qcircuit breakers, he needs to fly to the spaceport Mos Eisley on planet Tatooine to restock H1QS. No matter where he is in the galaxy, it costs him $925 infuel to fly to Mos Eisley. (For now, completely ignore the cost of his time; the MF is a fast ship!) On the other hand, H1Q5 are not cheap. They cost $6593each. Solo has sufficient cash in the bank to purchase any quantity of H1QS. His bank account pays 0.10% (or 0.001) daily interest rate (i.e., every daythat Han Solo holds one H1Q in storage, it costs him $6593*0.001 in mnissed daily interest). When Solo reaches his reorder point, how many H1Qs shouldbe ordered to mínimize Solo's H1Q inventory-related costs? Enter a number rounded to the nearest integer."QUESTION 2Han Solo doesn't like täking time off from helping the Galactic Alliance to fly to Mos Eisley to resupply circuit breakers. He decides to ignore the orderquantity that you recommended in the prior question, and instead he doubles that order quantity. Which of the following costs will rise? (There aremultiple correct answers; select only the correct ones.)O Annual cost of carrying safety stock.O Annual "ordering costs" (fuel costs) of replenishing circuit breakers.O Annual costs of stocking out of circuit breakers.O Annual opportunity costs of holding inventory of circuit breakersAnnual total inventory-related costs. QUESTION 3"Recall that the Millennium Falcon needs 5 new circuit breakers every day. That's on average of 5 per day, with standard deviation 2.360 per day due tofluctuations in daily Òdemand.Ó When he reaches his reorder point, it takes 1 day to fly to Mos Eisley to pick up additional units. In other words, the leadtime to resupply inventory is 1 day. Stockouts are very costly and so Solo would like a 99.9% service level when he reaches his circuit breaker reorderpoint. (A 99.9% service level means that a reorder point needs to be z= 3.09 standard deviations above the mean ""demand"" during the lead time.)Given this information, what reorder point would you recommend Han Solo use? Enter a number rounded to the nearest integer."QUESTION 4Han Solo would like to drop the service level from 99.9% to 95%. Is the following statement true or false? The reorder point will increase.O TrueO FalseQUESTION 5Han Solo would like to drop the service level from 99.99% to 95%. Is the fotlowing statement true or false? He will carry more safety stock of circuitbreakers.O TrueO FalseQUESTION 6Han Solo would tike to drop the service level from 99.9% to 95%. Is the following statement true or false? The EOQ will not change.O TrueCalco60°F Sr

Annual demand = 5 × 365 = 1825 units Ordering cost per order = $925 Carrying cost per unit = 6593 ×…

QUESTION 1 "Questions 1 to 8 refer to the following situation. Once upon a time in a galaxy far, far way. a smuggler named Captain Han Solo flew the starship Millennium Falcon (MF). The MF was known for its speed but not its reliability (its warp drive broke down frequently). Han Solo kept on hand a supply of the part that broke most often, a type-H1Q circuit breaker. On average, 5 such H1Q crcuit breakers fail every day. Circuit breakers are nonperishable inventory items and there is ample space in the MF's storage room to hold as many as Solo can buy at once. However, whenever he runs out of H1Q circuit breakers, he needs to fly to the spaceport Mos Eisley on planet Tatooine to restock H1QS. No matter where he is in the galaxy, it costs him $925 in fuel to fly to Mos Eisley. (For now, completely ignore the cost of his time; the MF is a fast ship!) On the other hand, H1QS are not cheap. They cost $6593 each. Solo has sufficient cash in the bank to purchase any quantity of H1QS. His bank account pays 0.109% (or 0.001)) daily interest rate (i.e., every day that Han Solo holds one H1Q in storage, it costs him $6593*0.001 in missed daily interest). When Solo reaches his reorder point, how many H1Qs should. be ordered to minimize Solo's H1Q inventory-related costs? Enter a number rounded to the nearest integer.

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q