3. As a new manager at Belk Wholesale Club, you were informed of the following information about Huggers diaper product. Daily demand follows a Normal distribution with a mean of 50 (boxes/day) and standard deviation of 20. Days per year considered in average daily demand = 360 days Cost to place an order= $100, Holding cost per unit per year= $4, Cost per unit = $10 Lead time = 5 days An order of 400 boxes is placed to P&G whenever the inventory position is at or goes below 300 (i.e., Continuous Review Policy with Q=400 and Reorder Point = 300) a. What is the expected total annual cost (sum of purchase cost, inventory holding cost, and ordering cost) now with Q=400? b. What will be the total annual cost if you use EOQ instead of Q=400? What is the time between orders, i.e. how often do you place an order, with EOQ? d. What is the current probability of shortage during lead time? e. As a manager understanding safety stock and reorder point in inventory management, you want to achieve 98% service level. What is going to be your new reorder point