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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,
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 :
- more than 2350
- less than 1600
- between 1600 and 2350
When an order is placed ,one month is required for the delivery . If the probability that the stock will run out is set to be less than 0.01,
4.calculate the amount of stock to order at the beginning of the month
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