1. Cress Electronic Products manufactures components used in the automotive industry. Cress purchases parts from a variety of suppliers. One supplier provides a part where the assumptions of the reorder point inventory policy are realistic. The daily demand is normally distributed, with a mean of 20 units and a standard deviation of 5 units. Ordering costs are 80 per order, and inventory-carrying costs are figured at an annual rate of 25%. Assume 250 days of operation per year. 1.1. (2.0 points) If the cost of the part is 20 per unit, the economic order quantity is: 1.5. (4.o points) Do you think the in-stock probability is correctly specified to minimize the relevant costs (procurement, carrying, and stock out costs) of the adopted policy? If not, please indicate the inConsider that be considered 1.3. (2.0 points) The average inventory level considering the above conditions is: 1.4. (2.0 points) What service level (fill rate) do Cress achieve using the reorder point control system