Lieutenant Commander Data is planning to make his monthly (every 30 days) trek to Gamma Hydra City to pick up a supply of isolineal chips. The trip will take Data about three days. Before he leaves, he calls in the order to the GHC Supply Store. He uses chips at an average rate of twelve per day (seven days per week) with a standard deviation of demand of two per day. He needs a 99 percent service probability. a. If he currently has 20 chips in inventory, how many should he order? (Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number.) Number of chips b. What is the most he will ever have to order? (Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number.) Maximum order quantity

Lieutenant Commander Data is planning to make his monthly (every 30 days) trek to Gamma Hydra City to pick up a supply of isolineal chips. The trip will take Data about three days. Before he leaves, he calls in the order to the GHC Supply Store. He uses chips at an average rate of twelve per day (seven days per week) with a standard deviation of demand of two per day. He needs a 99 percent service probability. a. If he currently has 20 chips in inventory, how many should he order? (Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number.) Number of chips b. What is the most he will ever have to order? (Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number.) Maximum order quantity

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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Lieutenant Commander Data is planning to make his monthly (every 30 days) trek to Gamma Hydra City to pick up a supply of isolinear chips. The trip will take Data about two days. Before he leaves, he calls in the order to the GHC Supply Store. He uses chips at an average rate of five per day (seven days per week) with a standard deviation of demand of one per day. He needs a 98 percent service probability. If he currently has 35 chips in inventory, how many should he order? What is the most he will ever have to order?
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