. Suppose that the monthly demand for a particular product is Normal with a mean of 1200 and standard deviation of 240 units.
(a) Find the probability that the demand in a particular month will exceed 1360 units.
(b) Find the probability that the demand in a particular month will be 1600 units or less.
(c) Find the probability that the demand in a particular month will be between 1000 and 1500 units.
(d) Find the probability that the average demand for a particular 4-month period will exceed 1500 units.
. Suppose that the monthly demand for a particular product is Normal with a mean of...
John knows that monthly demand for his product follows a normal distribution with a mean of 2,500 units and a standard deviation of 425 units. Given this, please provide the following answers for John. a. What is the probability that in a given month demand is less than 3,000 units? b. What is the probability that in a given month demand is greater than 2,200 units? c. What is the probability that in a given month demand is between 2,200...
John knows that monthly demand for his product follows a normal distribution with a mean of 2,500 units and a standard deviation of 425 units. Given this, please provide the following answers for John. a. What is the probability that in a given month demand is less than 3,000 units? b. What is the probability that in a given month demand is greater than 2,200 units? c. What is the probability that in a given month demand is between 2,200...
The monthly demand for a product is normally distributed with mean of 1200 units and standard deviation of 200 units. 1. Find the probability that demand in a given month is between 1020 and 1377 units. The potential answers are: A: 78.3% B: 38.2% C: 67.5% D: 62.8% E: 69.3% 2. If at the beginning of a month 1424 units are stocked, what is the probability that demand exceeds this amount (experiencing stock-out)? The potential answers are: A: 20.6% B:...
A monthly demand for a new product is normally distributed with a mean of 2000 and a standard deviation of 200. For a given month, find the probability that the demand is: lebih daripada 2350. a. more than 2350. (2 Markah/Marks) b. kurang daripada 1600. Less than 1600. (2 Markah/Marks) c. di antara 1600 dan 2350 Between 1600 and 2350. (3 Markah/Marks) Apabila sesuatu pesanan diterima, masa yang diperlukan untuk penghantaran adalah selama satu bulan. Jika kebarangkalian untuk kehabisan stok...
14. The monthly demand for the latest computer at Newland Computers follows a normal distribution with a mean of 350 and standard deviation of 75. Newland purchases these computers for $1,200 and sells them for $2,300. It costs the com pany $100 to place an order and $12 for every computer held in inventory at the end of each month. Currently, the company places an order for 1,000 computers whenever the inventory at the end of a month falls below...
Suppose the daily demand of a product follows a normal distribution with the mean of 50 units and the standard deviation of 10 units. Lead time is 9 days. The ordering cost is $400 per order, and the inventory holding cost is $20 per unit per year. A cycle service level (probability of no stockout) of 95% is required. Using the fixed order quantity model, what is the reorder point? 500 450 O 720 630 MRP is a technique designed...
suppose a retailer has two markets, 1 and 2. demand 1 follows normal distribution with mean 100 and standard deviation 12.4. demand 2 follows normal distribution with mean 110 and standard deviation 16.7. the retailer needs to know the mean and standard deviation of the difference between the two demands. please describe the conceptual analysis process to find out these two parameters by using simulation
The daily demand for coffee in a coffee shop approximately has a normal distribution with mean 220 cups and standard deviation 40. Assuming that the demands in different days are independent, what is the probability that the average demand in the next five days exceeds 240? ( Hint: Sum of five independent normal variables have also a normal distribution N(220, 40^2 /5), standard deviation=sqrt(40^2 /5). Use pnorm )
The average monthly mortgage payment for all homeowners in a city follows a normal distribution with a mean of $2850 and a standard deviation of $420. Find the probability that the monthly mortgage paid by a randomly selected homeowner from this city is: less than $2100 more than $2600 between $3200 and $3700
The profits from sales of a product depend on demand, which follows a normal distribution. The demand in week 1 has a distribution with mean 1000 and standard deviation 100. The demand in week 2 has mean 1010. a) Suppose that the standard deviation of demand in week 2 is 100. Explain why or why not the profit in week 2 stochastically dominates the profit in week 1.