I would like to have help with statistics question Thanks Gi

I would like to have help with statistics question. Thanks

Given an initial stock level of 500 units and a daily usage rate of 25 units, calculate the length of time before a stockout. (Sec 6.1)

A manufacturing process has been operating for 15 days. If the initial inventory order was 700 units and today\'s stock level is 400 units, what is the daily inventory usage rate? (Sec 6.1)

Inventory holding cost can be best described as: (Sec 6.2)

In business decision making, the difference between each payoff and the largest payoff for each state of nature is called: (Sec 9.3)

Solution

1) stock level = 500

daily stock usage = 25

days before stock ends = 500/25 = 20

hence answer will be 20 days option b