Franklin Barbecue (FB) is a BBQ shop that operates in Austin. Arguably serving the best barbecue in the known universe, FB has established a steady demand rate, such that to fire up their ovens the company's need of post oak wood per day is normally distributed with mean of 80 pounds and standard deviation of 10 pounds. FB's current supplier sells post oak woods to FB at a price of $1.25 per pound. Moreover, this supplier charges a fixed cost of $100 every time FB places an order for wood and delivery lead time is 1 week. FB's annual holding rate is 20%. Assume there are 50 weeks in a year and 5 days in a week.
(a) Calculate the economic order quantity (Q) (e.g., how many pounds of post oak woods should FB order every time it places an order from its supplier?).