If a 3rd Party logistics service provider (3PL) wants to bid for this Vietnam shipping business. In order to make their bid competitive, the 3PL offers a generous compensation scheme. According to which, the 3PL offers a guaranteed number of 6 of 11 days for the transit time and shipments taking more than the guaranteed number of days, then the 3PL commits to pay a fixed penalty charge. The 3PL does not want to pay the penalty charge for more than 2% of shipments. If the 3PL has access to this data file, how long should the 3PL set the guaranteed number of days, so that it pays for no more than 2 % of the shipment?

Flight lines (Count): 317

Mean(): 89.88

Standard Deviation: 8.89