The average demand for rental skis on winter Saturdays at a particular area is 150 pairs, which has been quite stable over time. There is variation due to weather conditions and competing areas; the standard deviation is 20 pairs. The demand distribution seems to be roughly normal. (a) The rental shop stocks 170 pairs of skis. What is the probability that demand will exceed this supply on any winter Saturday? (b) How many pairs of skis in stock does the shop have to have to make the probability in question (a) less than .01?

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aThe probability that demand will exceed 170 pairs of supply on any winter Saturday 150pa... View the full answer