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Additional Algo 11-5 On-Hand Inventory A fabricating shop orders supplies every 9 days. The lead time for deliveries is 6 days. Demand for copper averages
Additional Algo 11-5 On-Hand Inventory A fabricating shop orders supplies every 9 days. The lead time for deliveries is 6 days. Demand for copper averages 24 pounds per day with a standard deviation of 2.7 pounds. The holding cost for copper is $0.75 per pound per day. The restaurant wants to achieve an in-stock probability rate of 97.73% for copper. On average, how many pounds of copper will the fabricating shop have on hand? Note: Round your answer to 1 decimal place
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