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A firm uses a one-week periodic review inventory system. A two-day lead time is needed...

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Accounting

A firm uses a one-week periodic review inventory system. A two-day lead time is needed for any order, and the firm is willing to tolerate an average of one stock-out per year. Note: Use Z chart to identify the areas for the standard normal distribution. Assume 52 weeks in a year.

A. Using the firm's service guideline, what is the probability of a stock-out associated with each replenishment decision? If required, round your answer to four decimal places.

B. What is the replenishment level if demand during the review period plus lead-time period is normally distributed with a mean of 70 units and a standard deviation of 12 units? If required, round your answer to the nearest whole number.

C. What is the replenishment level if demand during the review period plus lead-time period is uniformly distributed between 30 and 78 units? If required, round your answer to the nearest whole number.

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