Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Aiko Hamaguchi is the manager of a small sushi restaurant called Little Ginza in Phoenix, Arizona. of her job Akiko has to purchase salmon every

Aiko Hamaguchi is the manager of a small sushi restaurant called Little Ginza in Phoenix, Arizona. of her job Akiko has to purchase salmon every day for the restaurant. For the sake of freshness, it is important that she the right amount of salmon daily. Buying too much may result in wastage and buying too little may disappoint some customers on high-demand days. Akiko has estimated that the daily consumption of salmon is normally distributed with a mean of 12 and a standard deviation of 3.2 pounds. She has always bought 20 pounds of salmon every day. Lately, she has been criticized by the owners because this amount of salmon was too often resulting in wastage. As part of cost cutting, Akiko is considering a new strategy. She will buy salmon that is sufficient to meet the daily demand of customers on 90% of the days.


Akiko wants to use the above information to:

1. Calculate the proportion of days that demand for salmon at Little Ginza was above her earlier purchase of 20 pounds.

2. calculate the proportion of days that demand for salmon at Little Ginza was below 15 pounds. 

3. Determine the amount of salmon that should be bought daily so that it meets demand on 90% of the days.

Step by Step Solution

3.49 Rating (152 Votes )

There are 3 Steps involved in it

Step: 1

DATE X Daily consumpli on of Galmon Ginn that Xn Nomail cl 12 32 let Plx 20... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Business Statistics Communicating With Numbers

Authors: Sanjiv Jaggia, Alison Kelly

1st Edition

78020549, 978-0078020544

More Books

Students also viewed these Accounting questions

Question

What are the three categories of time? (p. 291)

Answered: 1 week ago