Question

Row and Flow is a sports brand that specializes in rowing gear and apparel. They are currently selling two boats:

• The King is a high end boat, very high quality and also quite expensive. This boat is a slow moving item, and its monthly demand is estimated to follow a poisson distribution with a lambda of 1.
• Speedy is a medium quality, more affordable boat. In any given month, the total number of orders for Speedys is uniformly distributed between 5 and 11 (both inclusive).

What is the probability that, in any given month, at least one King is sold?

Introduce your answer as a decimal number between 0 and 1 with 4 decimal places.

  unanswered

What is the probability that, in any given month, the number of Speedys sold is between 5 and 10 (both values inclusive)?

Introduce your answer as a decimal number between 0 and 1 with 4 decimal places.

  unanswered

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Question 2

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Row and Flow also sells a wide variety of rowing hats and visors. You can find the monthly demand (in units) for each SKU during the past 3 years in this spreadsheet: download it here.

What is the monthly demand sample variance for SKU C1298?

Round your answer to the nearest integer.

  unanswered

What is the coefficient of variation for SKU C1298?

Introduce your answer as a decimal number with 4 decimal places.

  unanswered

Analyzing all the SKUs in the table, could you tell which group of SKUs has the most volatile demand?

Select the correct answer.

The group of SKUs that start with A.

The group of SKUs that start with B.

The group of SKUs that start with C.

All of them present similar demand volatility.

Answer 1

1.

A.

$\lambda$ = 1

P(X$\geq$1) = 1 - P(X = 0)

= 1 - 0.368

= 0.6321

B.

a = 5

b = 11

P(5$\leq$X$\leq$10) =

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