Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An oil refinery in Houston brings crude oil from UAE (United Arab Emirates), the journey takes on average 36 days and it has a standard

An oil refinery in Houston brings crude oil from UAE (United Arab Emirates), the journey takes on average 36 days and it has a standard deviation of 1 day. The journey has become longer as the tankers started to take longer but safer routes to avoid pirates. The refinery's daily crude oil demand is 5 tons and the standard deviation is 2 tons. What cycle service level is achieved if a full tanker leaves UAE for Houston whenever the crude oil inventory drops to 200 tons at the refinery? 1. Less than Normdist(1,0,1,1) 2. Between Normdist(1,0,1,1) and Normdist(2,0,1,1) 3. Between Normdist(2,0,1,1) and Normdist(3,0,1,1) 4. More than Normdist(3,0,1,1)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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_2

Step: 3

blur-text-image_3

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

Retailing Management

Authors: Michael Levy, Barton A Weitz

8th Edition

0073530026, 9780073530024

More Books

Students also viewed these General Management questions

Question

2. Ask questions, listen rather than attempt to persuade.

Answered: 1 week ago