Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The daily demand for smart light switches at a hardware store is normally distributed, with an average of 80 and a standard deviation of 10

image text in transcribed

The daily demand for smart light switches at a hardware store is normally distributed, with an average of 80 and a standard deviation of 10 units. The store manager is willing to accept a risk of stockout 3% of the time during the lead time, which is constant at 5 days. Answer the following questions. Write your final answer only (without intermediate steps) in the blanks below. Question 10 (2 points) The service level that the store manager wants to maintain = A .Use 2-decimal accuracy for the final answer, e.g., 0.12, when necessary. Question 11 (2 points) The appropriate value of Z (i.e., the number of standard normal deviations) = A Use 2-decimal accuracy for the final answer, e.g., 0.12, when necessary. Question 12 (2 points) Safety stock - A units. Round the final answer (if it is not a whole number) to the nearest whole number. Question 13 (2 points) Reorder point A/ units. Round the final answer (if it is not a whole number) to the nearest whole number

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

Step: 3

blur-text-image

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

Advanced Auditing And Assurance

Authors: Louise Kelly

1st Edition

978-1908199362

More Books

Students also viewed these Accounting questions

Question

How does IMPROSHARE differ from the Rucker and the Scanlon plans?

Answered: 1 week ago