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Daily consumption of a particular type of spare part in an auto-repair shop follows the normal distribution with a mean demand of 150 and a
Daily consumption of a particular type of spare part in an auto-repair shop follows the normal distribution with a mean demand of 150 and a standard deviation of 50. It takes 5 days to get an order of the spare parts from its supplier. The store wants to maintain 95% customer service level (for 95% service level, assume the value of z = 1.64) and monitors its inventory continuously. What is the approximate safety stock? Group of answer choices 183 153 203 146 193
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