Question
The daily demand for TVs at TVWorld is normally distributed with mean 400 and standard deviation100. Each time an order for TVs is placed. It
The daily demand for TVs at TVWorld is normally distributed with mean 400 and standard deviation100. Each time an order for TVs is placed. It takes exactly 4 days to arrive, i.e. TV orders have a 4-day lead time. TVWorld does not want to run out of TVs during more than 1% of all lead times. How low should TVWorld let its TV inventory drop before it places an order for more TVs?
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Solution The daily demand for TVs at Lowland Appliance is normally distributed with mean 400 and standard deviation 100 Thus if a random variable Xi d...
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Statistics Principles And Methods
Authors: Richard A. Johnson, Gouri K. Bhattacharyya
7th Edition
8126557745, 470904119, 978-0470904114
