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The weekly sales of flat-panel televisions at one EE store (Store A) follow a normal distribution with mean of 12 and standard deviation of
The weekly sales of flat-panel televisions at one EE store (Store A) follow a normal distribution with mean of 12 and standard deviation of 4. Store B usually has lower sales normally distributed but mean of 9 and standard deviation of 3. a) If the two stores currently have 18 and 14 flat-panel televisions in stock, respectively, and neither will receive a new shipment for the next week, determine which store has the higher probability of running out of stock. b) If the company has declared that each store should stock enough inventory so the chances of running out of stock are at most 2%, determine the minimum number of flat-panel televisions each store should keep in its weekly inventory to comply with the rule.
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