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You can use Excel functions to find the answers for the following question (round off the values to 4 decimal places): 1) Supplier on-time
You can use Excel functions to find the answers for the following question (round off the values to 4 decimal places): 1) Supplier on-time delivery performance is critical to enabling the buyer's organization to meet its customer service commitments. Therefore, monitoring supplier delivery times is critical. Based on a great deal of historical data, a manufacturer of personal computers finds for one of its just-in-time suppliers that the delivery times are random and well approximated by the Normal distribution with mean 55 minutes and standard deviation 12.5 minutes. a. What is the probability that a particular delivery will exceed one hour? b. What is the probability that a particular delivery arrives in less than one hour? C. What is the probability that the mean time of 16 deliveries will exceed one hour?
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