Daily demand for a product AX-303 is normally distributed with mean = 60 units and a standard

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Daily demand for a product AX-303 is normally distributed with mean = 60 units and a standard deviation of 6 units. The lead time is constant at 9 days (working). The cost of placing an order is Rs 20 and the annual holding costs are 20% of the unit price of Rs 10. A 95% service level is desired for the customers, who place orders during the re-order period. You are required to determine the order quantity and the re-order level for the item in question, assuming that there are 300 working days during a year

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