What is the expected number of orders placed each year, Operation Management

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What is the expected number of orders placed each year

Problem

La Piñata Gift Shop buys 800 rolls of wrapping paper each year. The cost of each roll is $1.00, and the annual inventory holding cost is $0.03. The cost each order of wrapping paper rolls is $3.00.

i. What is the optimal lot size?

ii. What is the expected number of orders placed each year?

iii. How long is the expected time between orders? The piñata operates 360 days a year.

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