A product with an annual demand of 1,000 units has Co = $24.50 and C₁ = $7. The demand exhibits some variability such that the lead-time demand follows a normal probability distribution with μ(a) What is the recommended order quantity? (Round your answer to the nearest integer.)=25 and σ =5.123(b) What are the reorder point and safety stock if the firm desires at most a 5% probability of stock-out on any given order cycle? (You may need to use the appropriate appendix table or technology to answer this question. Round youranswers to the nearest integer.)reorder pointsafety stock338(c) If a manager sets the reorder point at 30, what is the probability of a stock-out on any given order cycle? (Round your answer to four decimal places.).1587How many times would you expect a stock-out during the year if this reorder point were used? (Round your answer to the nearest integer.)1

The given information is as follows:

Answered: ) What is the recommended order…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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