You have been given data for the number of visitors to an open house for a property being sold in an attractive neighborhood for the last 7 weekends. Please forecast the number of visitors to that property for the next weekend.

Ordering cost is $40 and annual holding costs are 25% of unit price per unit. The intent is to minimize total annual costs.

Which supplier should be used?

What order quantity is optimal?

How many orders per year are placed?

If the lead time is one week, what is the reorder point?

Supplier A Quantity 1-199 200-499 500+ Price / unit $14.00 $13.80 $13.60 Supplier B Quantity 1-149 150-349 350+ Price / unit $14.10 $13.90 $13.70