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The results of the 6 independent replications of an (M, L) inventory system for the monthly costs are: [$243.71, $236.36, $235.78, $251.06, $233.89, $251.90] a.Compute

The results of the 6 independent replications of an (M, L) inventory system for the monthly costs are:

[$243.71, $236.36, $235.78, $251.06, $233.89, $251.90]

a.Compute the mean monthly cost with a 95% confidence interval.

b.Using the results of part (a) estimate the total number of replications needed to estimate mean monthly cost within $7.5

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