Normal Distribution
The monthly sales of mufflers in the Richmond, VA area follow a normal distribution, with a mean of 1,200 and a standard deviation of 225. The manufacturer would like to establish inventory levels such that there is no more than a 5% chance of running out of stock. What level should the manufacturer select as the minimum inventory level?
Solution Summary
The solution calculates the minimum inventory level for avoiding a stock out situation using normal distribution.
$2.19 
This answer includes:
- Plain text
- Cited sources when necessary
- Attached file(s)
- 266585-statistics-Normal Distribution.xls
Add to Cart $2.19
Active since 2003
BTech, IIT Delhi
MTech, IIT Delhi
MBA, IIM Bangalore
Responses 2706
"Not sure if you're busy, but I just posted a few questions that I could use help with pretty quickly..."
"Hello, are you still able to help with questions? I sent you another set of basic questions. Let me know, otherwise I will open to the group of experts."
"Thank you so much excellent prefdormance...the answers were so useful for me and gave me the uspport to understand in a practical way the concept. Thanks again"
"thanks I was on the right track just needed to confirm it. thank you"
"Thank you!!"