Question. A distributor is reexamining one of their key inventory items because of historically inconsistent, sporadic demand. Due to increasing short costs, a stochastic single period EOQ inventory policy is being considered. Data from past orders were requested and received in the histogram given below which is assumed to be normally distributed. The unit short cost ( shortage cost) is estimated to be $704 per item and the estimated long cost (excess cost) is $96 per item. Q10.1. Find out the mean value Q 10.2. Find the standard deviation or variance Q.10.3. What is the approximate economic order quantity (Single Period EOQ)? Question. A distributor is reexamining one of their key inventory items because of historically inconsistent, sporadic demand. Due to increasing short costs, a stochastic single period EOQ inventory policy is being considered. Data from past orders were requested and received in the histogram given below which is assumed to be normally distributed. The unit short cost ( shortage cost) is estimated to be $704 per item and the estimated long cost (excess cost) is $96 per item. Q10.1. Find out the mean value Q 10.2. Find the standard deviation or variance Q.10.3. What is the approximate economic order quantity (Single Period EOQ)