Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

. Normal Distribution: Operations and production managers often use the normal distribution as a probability model to forecast demand in order to determine inventory levels,

. Normal Distribution:Operations and production managers often use the normal distribution as a probability model to forecast demand in order to determine inventory levels, manage the supply chain, control production and service processes, and perform quality assurance checks on products and services. The information gained from such statistical analyses help managers optimize resource allocation and reduce process time, which in turn often improves profit margins and customer satisfaction.

Based on your understanding of the characteristics of the normal distribution, examine the chart below.Process Astandard deviation is .9, Process B standard deviation is 1.4, and the mean of both processes is 12. Contribute to our discussion by posting a response toONEof the questions below.

  1. Are there processes at your place of employ that you believe follow a normal distribution? If so, describe one. Why do you believe it is normal?

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_2

Step: 3

blur-text-image_3

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 Accounting Fundamentals

Authors: John Wild

4th Edition

0078025591, 9780078025594

More Books

Students also viewed these Accounting questions

Question

Solve the equation by completing the square. 3 x2 16

Answered: 1 week ago

Question

Brief the importance of span of control and its concepts.

Answered: 1 week ago

Question

What is meant by decentralisation?

Answered: 1 week ago

Question

Write down the Limitation of Beer - Lamberts law?

Answered: 1 week ago

Question

Discuss the Hawthorne experiments in detail

Answered: 1 week ago