Monthly demand for Cobalts new running shoe follows a normal distribution with a mean of 11,000 units
Question:
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? Distribution
The 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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11000 1000 a If you produce 12000 units youll end up with at least 1500 units of un...View the full answer
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Related Book For 
Understanding Business Statistics
ISBN: 978-1118145258
1st edition
Authors: Stacey Jones, Tim Bergquist, Ned Freed
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