Question
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
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.
Examine the chart below.Process A standard 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 to at least two of the questions below.
Employing the Normal Distribution 0.5 0.45 Process A 0.4 0.35 0.3 Probability Density 0.25 0.2 0.15 0.1 Process B 0.05 6 8 10 12 14 16 18 ProductStep by Step Solution
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