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Monthly demand for Cobalt s new running shoe follows a normal

Monthly demand for Cobalt’s new running shoe follows a normal distribution with a mean of 11,000 units and a standard deviation of 1000 units. Suppose Cobalt plans to produce 12,000 units for the upcoming month.

a. How likely is it that the company will end up with at least 1500 units of unsold product?

b. How likely is it that the company will have a shortage of at least 500 units?

c. How likely is it that the company will end up with no shortage at all?

d. If you want the chance of a shortage to be no more than 5%, how many units should you plan to produce for the upcoming month?

a. How likely is it that the company will end up with at least 1500 units of unsold product?

b. How likely is it that the company will have a shortage of at least 500 units?

c. How likely is it that the company will end up with no shortage at all?

d. If you want the chance of a shortage to be no more than 5%, how many units should you plan to produce for the upcoming month?

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