Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Charlie's Pizza orders all of its pepperoni, ollves, anchovies, and mozzarella cheese to be shipped directly from italy. An American distributor stops by every four

image text in transcribed
Charlie's Pizza orders all of its pepperoni, ollves, anchovies, and mozzarella cheese to be shipped directly from italy. An American distributor stops by every four weeks to take orders. Because the orders are shipped directly from italy, they take three weeks to arrive. Charlie's Pizza uses an average of 200 pounds of pepperoni each week, with a standard deviation of 22 pounds. Charlie's prides itseif on offering only the best-quality ingredients and a high level of service, so it wants to ensure a 95 percent probability of not stocking out on pepperoni. Assume that the sales representative just walked in the door and there are currently 480 pounds of pepperoni in the walk-in coolec. How many pounds of pepperoni would you order? (Use Excel's NORMSINVO function to find the correct critical value for the given a-level. Do not round intermediate calculations. Round " z " value to 2 decimal places and final answer to the nearest whole number.)

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

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

Financial Markets And Institutions

Authors: Jeff Madura

8th Edition

0324568215, 978-0324568219

More Books

Students also viewed these Finance questions

Question

What is the difference between needs and wants? (p. 263)

Answered: 1 week ago