(Solved): Alice opens an aquarium store in a lively shopping mall and finds business to be booming, but she ...

Alice opens an aquarium store in a lively shopping mall and finds business to be booming, but she often stocks out of key tems customers want. She decides to experiment with inventory-control methods, such as using a fixed-order quantity FQS) and/or fixed-order period (FPS) systems. The FLUVAL 303 Pump, a high margin and profitable pump, is one of her best sellers, but it stocks out frequently. You collect the following data with respect to this pump's sales. Demand = four units per week Store open = 50 weeks/year Order cost = $20/order Lead-time = four weeks Item cost = $210/pump Std. deviation in weekly demand = 6 Inventory-holding cost = 10 percent per year Service level = 97 percent a. What is inventory-carrying (holding) cost pump year? Round your answer to the nearest dollar. $ 21 /pump/year . What is the economic order quantity? Round your answer to the nearest whole number. 20 pumps c. What is the average number of orders per year if using the EOQ? Do not round intermediate calculations. Round your answer to one decimal place. 10 orders/year d. What is the reorder point without safety stock? Round your answer to the nearest whole number. 16 units e. What is the safety stock quantity? Round your answer to one decimal place. 21 units f. What is the reorder point with safety stock? Use Appendix A to determine z-value. Round z-value to two decimal places. Do not round intermediate calculations. Round your answer to one decimal place. 37 pumps g. If the current order quantity used by Alice is 10 pumps order, how much money can she save by adopting an EOQ ordering policy? Do not round intermediate calculations. Round your answer to the nearest dollar. $ The following table shows estimates of activity times in weeks) for a project: Optimistic Most Probable Pessimistic Activity Time Time Time A 4 5 6 B 3 3.5 00 2.5 ? 6 7 8 D 5 5.5 9 E 6 7 8 F 1 3 5 G 8 10 12 Suppose that the critical path is A-C-E-F-G. Use Appendix A to answer the questions. Do not round intermediate calculations. Round your answers to three decimal places. a. What is the probability that the project will be completed within 33 weeks? b. What is the probability that the project will be completed within 30 weeks? c. What is the probability that the project will be completed in more than 31 weeks? d. What is the probability that the project will be completed in 32 weeks?