The monthly demand for a product is normally distributed with mean of 1600 units and standard deviation of 200 units. 1. Find the probability that demand in a given month is between 1529 and 1631 units. The potential answers are: A: 42.1% B: 92.2% C: 47.8% D: 14.5% E: 20% 2. If at the beginning of a month 1624 units are stocked, what is the probability that demand exceeds this amount (experiencing stock-out)? The potential answers are: A: 4.5% B: 3.3% C: 4.1% D: 0.3% E: 45.2% 3. If we want to set the probability of stock-out at 2%, how many units shall we have in stock at the beginning of the month? The potential answers are: A: 2501 B: 1582 C: 1811 D: 1451 E: 2011
Answers
1. The probability that demand in a given month is between 1529 and 1631 units is approximately 47.8%.
2. If 1624 units are stocked at the beginning of the month, the probability that demand exceeds this amount (experiencing stock-out) is approximately 3.3%.
3. To set the probability of stock-out at 2%, the number of units that should be in stock at the beginning of the month is approximately 1582.
To find the probability that demand falls between 1529 and 1631 units, we need to calculate the z-scores for these values using the formula (X - mean) / standard deviation. Then, we can use a standard normal distribution table or a calculator to find the corresponding probabilities. The probability is approximately 47.8%.
To calculate the probability that demand exceeds 1624 units, we calculate the z-score for this value. Then, we find the area under the curve to the right of this z-score, which represents the probability of exceeding the given demand. The probability is approximately 3.3%.
To determine the number of units needed in stock to achieve a 2% probability of stock-out, we can use the inverse normal distribution function. By finding the z-score corresponding to a 2% probability, we can then calculate the corresponding demand value using the formula X = (z-score * standard deviation) + mean. The approximate number of units needed is 1582.
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Related Questions
Please!!!!!!!!!!!!!!!!!!!!please!!!!!!!!!!!!!!!!!
What is Marketing and why is it important in a global economy? How do you interact with and are
affected by marketing daily?
Answers
Answer:
Many companies have become disillusioned with sales in the international marketplace as old markets become saturated and new ones must be found. How can they customize products for the demands of new markets? Which items will consumers want? With wily international competitors breathing down their necks, many organizations think that the game just isn’t worth the effort.
How can interests play a role in planning for your career brainly
A.You may want to join clubs or teams at work.
B.You won't want to work with people who have different interests.
C.Interests should be included on your resume
.D.It is possible to choose a career based on your interests.
Answers
Interests play a role in career planning because D.It is possible to choose a career based on your interests.
Why should interests be considered in career planning?Interests are things we actually enjoy doing and are actively interested in doing.
These should therefore be considered when planning for a career because we can pick jobs based on out interests which would allow us to be motivated when doing those jobs.
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d, it is possible to choose a career based on your interests
You are a potential stockholder and are concerned that a particular company you are ready to invest in, might have too much debt. which financial statement would provide you with the information needed to evaluate your concern?
Answers
You are a potential stockholder and are worried that a particular company you want to invest in has a large amount of debt. The financial statement that provides the information necessary to assess concerns is the balance sheet.
What are balance sheets?A balance sheet is a summary of a company's assets, liabilities and equity at a particular point in time. It is one of the basic documents that make up a company's financial statements. There are three types of balance sheets: Comparative balance sheet. Vertical balance sheet and Horizontal balance sheet.
Why use a balance sheet?A balance sheet provides a snapshot of a company's financial position at a particular point in time. In addition to income and cash flow statements, the balance sheet helps business owners assess the financial health of their company. A balance sheet report on the organization's assets (what it owns) and liabilities (what it owes).
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locking a cell so that others cannot alters its contents is know as
Answers
Answer:
The correct answer is cell protection.
Explanation:
It is when you prevent others to edit or change the contents of certain cells in a sheet. In doing this, you first unlock all cells. Then, select the cells you want to lock then select the option to lock them. Hope this helped.
Answer:
The answer is Cell protection.
A global computer network providing a variety of information and communication facilities, consisting of interconnected networks using standardized communication protocols.
Answers
Answer:
The correct answer is "Internet".
Explanation:
A global structure of data networks, the collection of several types of networks throughout which the clients at any device will, whether they have the authorization, obtain some technical information from other devices, recognized as an internet. Which utilizes a fraction of that same cumulative capacity of the already additional infrastructure network systems.Suppose the price of a TV is $600 and there are two consumers in the TV market. Joe is willing to pay $700, and Isaac is willing to pay $550. How much consumer surplus exists in this market
Answers
If Joe is willing to pay $700, and Isaac is willing to pay $550. The consumer surplus that exists in this market is: $100.
Consumer surplusUsing this formula
Consumer surplus=Amount Joe is willing to pay-Price of TV
Let plug in the formula
Consumer surplus=$700-$600
Consumer surplus=$100
Therefore the consumer surplus that exists in this market is: $100.
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What are 3 different checking accounts?
Answers
Checking Account, Savings Account, Money Market Deposit Account are three different checking accounts.
What is a Savings Account?The savings account is a type of bank account which generates interest deposits at bank or any other financial institution.
Although these accounts pay very little interest, their dependability and security make them a perfect choice for saving money for unexpected expenses.
Savings accounts are excellent for creating an emergency fund, saving for an immediate necessity, such as a car or vacation, or just putting extra money you don't need into your checking account so it can earn more interest.
Savings accounts offer amazing flexibility. The frequency of withdrawals from a savings account is subject to various restrictions, but overall, they offer excellent flexibility.
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The recording of transactions and events is called:.
Answers
Explanation:
The definition of record keeping is keeping records, or units of preserved information. This information can also be kept in books, which brings us to another term; bookkeeping.
the majority of private sector employment in the u.s. economy is in the _______ sector.
Answers
The majority of private sector employment in the u.s. economy is in the Service sector. The third tier of the three-sector economy is the service sector, also referred to as the tertiary sector.
Why is the United States a service industry?Employment—It is most straightforward to explain how services affect employment. Today's U.S. economy is referred to as a "service economy." This is so because the service sector employs the vast majority of the working population.
The United States services sector, a broad economic category that now includes financial services, media, transportation, and technology, was responsible for 67 percent of the GDP.
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Write a one to two paragraph explanation that teaches how to complete each form. Be sure to write the instructions in "plain English" versus official federal government "speak."
Describe the documents you could provide to a new employer in order to establish your identity and/or employment eligibility. Provide a list of a minimum of four documents.
Submit your paragraph explanations for completing each form and the description of the documents for establishing your identity and/or employment eligibility as the assignment for this lesson.
Answers
Answer: So so sorry but i don't know!
Explanation:Have a great day
QUESTION 4 of 10: A clothing designer is looking for a job that can cover her living expenses of $5,000 per month. If she plans on working
forty hours a week, with four weeks a month, what's the minimum hourly wage she needs?
Answers
Answer:
$31.25
Explanation:
40 hours a week x 4 weeks a month = 160 hours of work per month
$5,000 divided by 160 = $31.25
suppose you have developed a new product for you business.outlineany five steps in developing a rematch instrument
Answers
Answer:
But I am too young to start a new business
What is a country that wants to increase its gross domestic product trying to
achieve?
A. It wants to increase the value of goods and services it produces.
B. It wants to prevent its currency from gaining or losing value too
quickly.
C. It wants to reduce the number of people who can't find a job.
D. It wants to increase its economic productivity per person in the
country
Answers
Answer:
A. It wants to increase the value of goods and services it produces.
Explanation:
GDP is the total value of all commodities and services produced within the country over a given period. Only finished consumer goods are considered when calculating GDP. The GDP value communicates the state of a country's economy. An increase in GDP reflects growth, while a decrease suggests a recession.
When a country wants to increase the GDP value, it is thinking of increasing the value of all commodities and services produced within its boundaries. Increasing GDP is similar to expanding the economy.
Answer:
it wants to increase the value of good and services it produces
Explanation:
highlight four reasons why a seller would prepare a proforma invoice???
Answers
Answer:
Pro forma invoices are sent to buyers ahead of a shipment or delivery of goods or services. Most pro forma invoices provide the buyer with a precise sale price. A pro forma invoice requires only enough information to allow customs to determine the duties needed from a general examination of the included goods.
Explanation:
hope i help
consumption still exists even if income is zero because ________.
Answers
Consumption still exists even if income is zero because individuals may have access to alternative sources of funds or assets. Even when income is zero, people can tap into their savings, borrow money, utilize credit, or receive financial assistance from others or the government. Additionally, individuals may possess assets that can be liquidated or exchanged for goods and services. Furthermore, some essential needs, such as food and shelter, may be met through social welfare programs or charitable assistance. Consequently, while income is a primary determinant of consumption, it is not the sole factor, and individuals can still engage in consumption even in the absence of income.
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advice for a mcdonalds interview?
Answers
Answer:
Always be courteous and professional to stand out from the crowd.
Explanation:
Porter is visiting india and would like to purchase some local spices. He finds some spices that cost 320. 38 rupees. If the current exchange rate is 1 dollar:73. 6500 rupees, how much do the spices cost in u. S. Dollars?.
Answers
Porter is visiting India and would like to purchase some local spices. So, the spices cost in u. S. Dollars is $ 4.36.
What do you mean by the current exchange rate?An exchange rate determines the price at which one currency will be exchanged for another and has an impact on international trade and money transfers.
Both the value of the home currency and the value of the foreign currency have an impact on exchange rates.
The buying rate and selling rate are the rates at which currency traders will purchase and sell foreign currency, respectively.
Given,
Cost of Spices = 320.38
Exchange rate = 73.6500
Here,
Cost of spices in Dollars = 320.38 / 73.65
Cost of spices in Dollars = 4.36
Therefore, Porter is visiting India and would like to purchase some local spices. So, the spices cost in u. S. Dollars is $ 4.36.
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Which of the following statements is true?
A. The reporting relationship between human resource management and the training function is standard across companies.
B. Including training as part of the human resource function allows training to be decentralized to better respond to unique needs in different business units.
C. Organizational development professionals are seldom responsible for training.
D. For training and development to succeed, employees, managers, training professionals, and top managers all have to take ownership.
Answers
The statement which is considered true is For training and development to succeed, employees, managers, training professionals, and top managers all have to take ownership. Thus the correct option Is D.
What are the functions of the HR department?The human resource Department of any organization is responsible for the onboarding and exit of an employee in an organization through Recruitment and termination.
They also take care of payroll, employee engagement, performance appraisal, and training development of employees in order to improve them and for promotion.
Employees, managers, training specialists, and top managers must all take responsibility for training and development in order to meet organizational requirements and improvement needs.
Therefore, option D is appropriate.
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What does purchasing insurance for a business reveal about the business owner’s attitude toward financial risk?
Answers
Answer:
It reveals that the owner is completely aware about financial risk and wants to take precautions to ensure the success of his company.
Which career field involves the design, manufacture, and use of various types of machinery, technology, and buildings?
A. engineering
B. math
C. science
D. technology
The answer I chose is A. Please correct me if I'm wrong.
Answers
Answer:
yes I believe the correct answer would be A
A business that accepts payments by credit and debit cards A. almost always pays a fee to the processor to cover the processing costs B. is usually unable to attract more customers C. generally receives proceeds from credit and debit card transactions 30-45 days after the sale D. must check each customer's credit rating
Answers
Answer:
HOPE THIS HELPS
Explanation:
A. it's almost always pays a fee to the processor to cover the processing costs.
Definition of economics
Answers
Answer:
Economics is a social science that studies how individuals, businesses, governments, and societies make decisions about how to allocate scarce resources to satisfy their unlimited wants and needs. It examines how goods and services are produced, distributed, and consumed, and how markets and economies function. Economics is concerned with the study of incentives, the effects of resource allocation on social welfare, and the interactions between economic agents.
although the date varies by location, when did the shift to agriculture first occur?
Answers
The shift to agriculture first occurred around 10,000 to 12,000 years ago.
The transition to agriculture, known as the Neolithic Revolution or Agricultural Revolution, occurred at different times in various regions of the world. It marked a fundamental shift from a nomadic hunter-gatherer lifestyle to settled farming communities. In some areas, such as the Fertile Crescent in the Middle East, agriculture emerged earlier due to the availability of wild cereal grains.
In other regions, such as Mesoamerica and East Asia, agricultural practices developed independently. The shift to agriculture brought about significant changes in human societies, including the domestication of plants and animals, the establishment of permanent settlements, and the development of more complex social and economic systems.
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Bought a motor van by cheque would result in
A. Increase in motor van and decrease in bank
B. Decrease in motor van and increase in bank
C. Increase in motor van and increase in capital
D. Increase in motor van and decrease in capital
Answers
Answer:
The answer is B.
Hope this helps!
Answer:
B one is correct
Explanation:
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Which statement best explains the decrease in manufacturing jobs over the next few years?
1)There is not enough demand for manufactured goods.
2) These jobs are often outsourced to overseas factories.
3)There are not enough skilled workers to fill the positions.
4)The cost of technical training and on-the-job training is high.
Answers
Answer:
2) These jobs are often outsourced to overseas factories.
Explanation:
The correct option is B. These jobs are often outsourced to overseas factories which best explains the decrease in manufacturing jobs over the next few years.
What is the effect of outsourcing jobs?Outsourcing jobs enables American businesses to compete more effectively on a global scale. With abroad branches, they are able to sell to foreign markets. By employing in developing nations with lesser standards of living, they maintain low labor prices. As a result, the prices of the commodities they ship back to the US are reduced.
Production outsourcing has significant effects on labor and material costs, with a tendency to drive up material costs and drive down labor costs. This study also demonstrates that process techniques do not moderate the impact of high levels of supplier integration on total COGS.
The best choice is B. The loss in manufacturing jobs over the next years can be best explained by the fact that these positions are frequently outsourced to manufacturers in other countries.
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Animal trainer jobs are difficult to find as most positions are typically filled and it is rare for new positions to be created. This career has
a decrease in supply
an increase in demand
an increase in supply
no change in demand
Answers
The career has a no change in demand and an increase in supply
Let understand that when demand meet supply, there is an equilibrium.
Here, there is no equilibrium and this will be explained as follows.Demand in this context is the need to hire Animal Trainers to train animal. In the question, the service does exist but no new position are created because there is no need for it. Thus there is mo change in the demand for Animal trainersSupply in this context refers to availability of people skilled as Animal Trainers. In the question, they keep increasing in number but there are no role for them to occupy.
In conclusion, the Animal trainers careers have an increase in supply but have no change in demand.
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Answer:
Increase in supply :)
Explanation:
Since theres already a high amount of employees, theres a high supply of them, meaning the demand for that job position is low.
Disadvantages of choosing a job that is extremely popular or in demand
Answers
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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Why do promises make a difference in people ives
Answers
Answer:
It gives people hope and trust in that person. Promiss are a mere social construct however they add that bit of extra trust to the mix
Write a scenario that will help you understand the following word or topic and show me that you understand their importance.
Criticism - is the practice of judging the merits and faults of something. Criticism as an
evaluative or corrective exercise can occur in any area of human life. In specific areas of
human endeavor, the form of criticism can be highly specialized and technical; it often requires professional knowledge to understand the criticism.
Answers
Criticism is the practice of judging the merits and faults of something. Criticism as an evaluative or corrective exercise can occur in any area of human life.
Write a scenario that will help you understand criticism?You are a film director and your latest film has just been released. You're excited to see what people think of your work, but when you read the reviews, you are met with a lot of criticism. Some reviewers claim the acting was lackluster, others say the plot was confusing, and a few even say that the special effects were underwhelming.
At first, you feel disheartened and defensive. But after some reflection, you realize that criticism can be a valuable tool for growth and improvement. You start to take the criticism seriously and use it to inform your future work. You work on improving your acting direction, make sure that your plots are clearer, and pay more attention to the special effects.
A year later, you release a new film and it is met with widespread praise. Critics call it a major improvement over your previous work and praise the acting, plot, and special effects. You realize that criticism is an important part of the creative process and can help you become a better filmmaker.
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Type the correct answer in the box. Spell all words correctly.
Ideally, what should more than one member of the family contribute to for a better financial position?
A family can have more than one person contributing to the household _______
for a better financial position.
Answers
A family can have more than one person contributing to the household income for a better financial position.
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