• Please state any assumptions that you feel you need to make in order to answer a question.
• Please show all of your workespecially any graphs with points clearly labeledand write as neatly as possible in the space provided so we can see your thinking
• Feel free to leave complicated calculations in long form unless otherwise requested

Questions:

1. A local laboratory products firm can predict market demand for its syringes using some simple statistical models3 . The demand planners have found that (population) daily demand has a mean value of 7200 syringes with a standard deviation of 300 syringes. What is the probability that on any given day, demand for this firms syringes is:
   1. More than 7450 syringes? Based on production costs, the owners have decided to make sure they can meet demand for their syringes only 91% of the time (that is, 91% of possible demand).
   2. Based on this consideration, how many syringes should the firm produce on a daily basis?
   3. How often will this firm have 500 or more syringes go unsold based on the production determined in part (b)?