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2. The monthly demand for a certain product in a retail store is normally distributed with a mean of 475 units and standard deviation of

2.The monthly demand for a certain product in a retail store is normally distributed with a mean of 475 units and standard deviation of 100 units.

(10)a. Find the probability that demand in a given month is between 300 and 420 units.

(10)b. If in a given month 600 units are stocked, what is the probability that demand exceeds 600? (this

means having stock-out or shortage).

(5) c. If we want to have the probability of stock-out at 4%, how many units do we need to stock per month?

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