While waiting for an order to arrive from its supplier (known as the lead time), the golf
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While waiting for an order to arrive from its supplier (known as the lead time), the golf department manager at a local Dick’s Sporting Goods store will sell an average of 60 boxes of Titleist golf balls. Assume the demand during the lead time for the balls follows a normal distribution with a standard deviation of 12 boxes. Determine the reorder point that will ensure the store a 95% probability that it will have enough inventory of golf balls until the next order arrives.
DistributionThe word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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