SUBJECT: TECHNICAL OPERATIONS MANAGEMENT (Business)Given this information:Expected demand during lead time: 300 unitsStandard deviation of lead time demand: 30 unitsDetermine each of the following, assuming that lead time demand is distributed normally:a. The ROP that will provide a risk of stockout of 1 percent during lead time.b. The safety stock needed to attain a 1 percent risk of stockout during lead time.c. Would a stockout risk of 2 percent require more or less safety stock than a 1 percent risk?Explain. Would the ROP be larger, smaller, or unaffected if the acceptable risk were 2 percentinstead of 1 percent? Explain
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