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Dunstreet's Department Store would like to develop an inventory ordering policy with a 9 0 percent probability of not stocking out. To illustrate your recommended
Dunstreet's Department Store would like to develop an inventory ordering policy with a percent probability of not stocking out. To illustrate your recommended procedure, use as an example the ordering policy for white percale sheets.
Demand for white percale sheets is per year. The store is open days per year. Every three weeks days inventory is counted and a new order is placed. It takes days for the sheets to be delivered. Standard deviation of demand for the sheets is two per day. There are currently sheets onhand.
How many sheets should you order?
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