9. Philip's Paint Supply sells interior latex paint in a wide variety of colors. The assorted colors are mixed to order, so Philip Kale (the owner-operator of the store) only needs to carry inventory of a few different tint bases rather than an inventory of every color a customer may want to purchase. Daily demand for semi-gloss light tint base is normally distributed with a mean of 24 gallons and a scandard deviation of 4 gallons. The tint base supplier promises delivery of orders in 3 days. Philip's cost for placing an order with the supplier is $65, and he estimates annual inventory carrying cost to be $3 per gallon. Assume that Philip's Paint Supply is open for business every day of the 365 -days year. Given this information, Philip wishes to study two inventory management approaches. He seeks your help in developing a fixed-quantity inventory policy and a fixed-period inventory policy. a. Prepare and express carefully including any assumption that you make, a fixed-quantity inventory policy for the situation described above. b. Prepare, and express carefully, a fixed-period inventory policy for the situation described above. Assume that the order interval has been set as 13 days. c. Did you notice that the cost of a gallon of light tint base is not mentioned in this problem? Why is it not a factor in this