What is the average demand and standard deviation of demand during the protextion interval? the target inventory ?the order quantity ? Nationwide Auto Parts uses a periodic review inventory control system for one of its stock items. The review interval is 4 weeks, and the lead time for receiving thematerials ordered from its wholesaler is 4 weeks. Weekly demand is normally distributed, with a mean of 250 units and a standard deviation of 50 units. Refer to thestandard normal table for z-values.a. What is the average and the standard deviation of demand during the protection interval?The average demand during the protection interval isunits. (Enter your response as an integer.) Z0.00.10.20.30.40.50.60.70.80.91.01.11.21.31.41.51.61.71.81.92.02.10.01 0.020.030.6179 0.62170.66280.000.04 0.05 0.06 0.07 0.08 0.090.5000 0.5040 0.5080 0.5120 0.5160 0.5199 0.5239 0.5279 0.5319 0.53590.5398 0.5438 0.5478 0.5517 0.5557 0.5596 0.5636 0.5675 0.5714 0.57540.5793 0.5832 0.5871 0.5910 0.5948 0.5987 0.6026 0.6064 0.6103 0.61410.6255 0.6293 0.6331 0.6368 0.6406 0.6443 0.6480 0.65170.6554 0.65910.6664 0.6700 0.6736 0.6772 0.6808 0.6844 0.68790.6915 0.6950 0.6985 0.7019 0.7054 0.7088 0.7123 0.7157 0.7190 0.72240.7258 0.7291 0.7324 0.7357 0.7389 0.7422 0.7454 0.7486 0.7518 0.75490.7580 0.7612 0.7642 0.7673 0.7704 0.7734 0.7764 0.7794 0.7823 0.78520.7881 0.7910 0.7939 0.7967 0.7996 0.8023 0.8051 0.8079 0.8106 0.81330.8159 0.8186 0.8212 0.8238 0.8264 0.8289 0.8315 0.8340 0.8365 0.83890.8413 0.8438 0.8461 0.8485 0.8508 0.8531 0.8554 0.8577 0.8599 0.86210.8643 0.8665 0.8686 0.8708 0.8729 0.8749 0.8770 0.8790 0.8810 0.88300.8849 0.8869 0.8888 0.8907 0.8925 0.8944 0.8962 0.8980 0.8997 0.90150.9032 0.9049 0.9066 0.9082 0.9099 0.9115 0.9131 0.5147 0.9162 0.91770.9192 0.9207 0.9222 0.9236 0.9251 0.9265 0.9279 0.9292 0.9306 0.93190.9332 0.9345 0.9357 0.9370 0.9382 0.9394 0.9406 0.9418 0.9430 0.94410.9452 0.9463 0.9474 0.9485 0.9495 0.9505 0.9515 0.9525 0.9535 0.95450.9554 0.9564 0.9573 0.9582 0.9591 0.9599 0.9608 0.9616 0.9625 0.96330.9641 0.9649 0.9656 0.9664 0.9671 0.9678 0.9686 0.9693 0.9700 0.97060.9713 0.9719 0.9726 0.9732 0.9738 0.9744 0.9750 0.9756 0.9762 0.97670.9773 0.9778 0.9783 0.9788 0.9793 0.9798 0.9803 0.9808 0.9812 0.98170.9830 0.9834 0.9838 0.9842 0.9846 0.9850 0.9854 0.98570.9821 0.9826

Safety stock management is vital in retail as recent fads arise and demand varies. Organizations can…

Nationwide Auto Parts uses a periodic review inventory control system for one of its stock items. The review interval is 4 weeks, and the lead time for receiving the materials ordered from its wholesaler is 4 weeks. Weekly demand is normally distributed, with a mean of 250 units and a standard deviation of 50 units. Refer to the standard normal table for z-values. a. What is the average and the standard deviation of demand during the protection interval? The average demand during the protection interval is units. (Enter your response as an integer)

Nationwide Auto Parts uses a periodic review inventory control system for one of its stock items. The review interval is 4 weeks, and the lead time for receiving the materials ordered from its wholesaler is 4 weeks. Weekly demand is normally distributed, with a mean of 250 units and a standard deviation of 50 units. Refer to the standard normal table for z-values. a. What is the average and the standard deviation of demand during the protection interval? The average demand during the protection interval is units. (Enter your response as an integer)

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...

See similar textbooks

Similar questions

Calculate the inventory management system's criteria for ongoing research and evaluation.
The following lots of a particular commodity were available for sale during the year Beginning inventory 7 units at $49.00 First purchase 18 units at $54.00 Second purchase 25 units at $59.00 Third purchase 14 units at $59.00 The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the FIFO method? Select the correct answer. $1,127.00 $1,357.00 $3,616.00 $3,593.00
A company wants to produce hardware at a level rate and send 10 units to inventory. If their 6-month forecast reveals a total of 110 units demanded, what should be their monthly production rate?
1) Assume that you are a manager of one of the hotels in the UAE. As you know, UAE has an excellent weather from October to April, so the room occupancy rate is high during this period. However, the occupancy rate becomes low during the period from May to September due to the hot weather and this happens every year. Based on the above information: 1- What is type of demand state that you face in this situation? Explain it? 2- And explain how can you manage this demand state in detail? 2) In this course, you were requested to provide relevant recommendations to intensive growth strategies for a selected hotel of your choice in the UAE, write a report to explain each one of them and show their relevant recommendations as follows: 1- Market penetration strategy (explain and write recommendations) 2- Market development strategy (explain and write recommendations) 3- Product development strategy (explain and write recommendations) 4- Related diversification strategy (explain and write…
X1=29000 X2=5 I need a step by step answer please (not on excel please)
Model most appropriate for making a one-time purchase of an item.
Please answer b
The increase in the size of an TNC is due to the dominant position of the TNC in the country of origin and other countries. Select one:falseFalse
Help me
Algro Inc. keeps a wide range of parts and materials on hand for use in its production processes. Management has recently had difficulty managing parts inventory as demand for its finished goods has increased; they frequently run out of some critical parts while having an endless supply of others. They would like to classify their parts inventory according to the ABC approach to better control inventory. The following is a list of parts, along with their annual usage and unit value: Item Annual Unit Item Annual Unit Number Usage Cost Number Usage Cost 1 36 $350 2 510 30 3 50 23 4 300 45 5 18 1900 6 500 8 7 710 4 8 80 26 9 344 28 10 67 440 11 510 2 12 682 35 13 1216 95 50 14 10 3 15 820 1 KARAN2222222222 16 60 $610 17 120 20 18 270 15 19 45 50 20 19 3200 21 910 3 12 4750 23 30 2710 24 24 1800 25 870 105 26 244 30 27 750 15 28 45 110 29 46 160 30 165 25 a. Classify the inventory items according to the ABC approach using the dollar value of annual demand. b. Clearly explain why you…
You are a newsvendor selling the New York Times every morning. Before you get to work, you buy the day’s newspaper for $0.90 a copy. You sell a copy of the New York Times for $4.0. Daily demand is distributed normally with a mean of 130 and a standard deviation of 20. At the end of each morning, any leftover copies can be sold to a recycling center for $0.10. How many copies of the New York
What is the distinction between simulated and anticipated average demand: