Question: ANSWER D E F (D) In Memphis Regional Hospital example, suppose the desired stockout probability is 10%. Then how much safety stock should the hospital

ANSWER D E F

(D) In Memphis Regional Hospital example, suppose the desired stockout probability is 10%. Then how much safety stock should the hospital maintain?

(E) Continuing from the previous question, what is the reorder point?

(F) Suppose monthly demand has a mean of 1000 and standard deviation of 200. Recall there are 12 months in a year. What is the standard deviation of the annual demand?

Memphis Regional Hospital stocks a "code blue" resuscitation kit that has a normally distributed demand during the reorder period. The mean (average) demand during the reorder period is 350 kits, and the standard deviation is 10 kits. The hospital administrator wants to follow a policy that results in stockouts only 5% of the time. (a) What is the appropriate value of Z ? (b) How much safety stock should the hospital maintain? (c) What reorder point should be used

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