Weekly demand at a local EZ Mart convenience store for 1-gallon jugs of low fat milk for the past 50 weeks varied between 60 and 65 jugs as shown the following table. Demand in excess of stock cannot be back ordered.
a. Assign random numbers between 00 and 99 to sirnulate the demand probability distribution.
b. E-Z Marl orders 62 jugs every week. Simulate the demand for this item for 10 weeks, using the random numbers 97, 2, 80, 66, 99, 56, 54, 28, 64, and 47.
Demand (jugs) Number of Weeks
60 ..............5
61 ..............7
62 ...............e-17
63 ...............11
64 .................6
65 .................4
Total 50
Determine the shortage or excess stock for each week
c. What is the average shortage and the average excess stock for the 10 weeks?