Problem
The average montly demand for a Cheapest Bike brand bike at Walmart Moreno Valley store is 131 units with a standard deviation of 31. The store incurs a fixed ordering cost of $150 every time an order is placed. Each bike costs $24 and the store has an annual holding cost per unit of product that is 7% of the procurement cost. Find the number of bikes that the store should order in each replenishment? Assume that the store is open 12 months in a year.