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A car manufacturer uses a continuous review system to manage inventory of one of its engine's component. The demand for the component is normally distributed with an average of 51 units per week. Current lead time is 2 weeks. The standard deviation of demand is 13 units. a. What is the probability of demand exceeding the reorder point when the reorder quantity is set at 143 units? Refer to the standard normal table as needed. The probability is%. (Enter your response rounded to two decimal places.) b. What is the probability of demand exceeding the 143 units, if the supplier delays the lead time to 3 weeks? Refer to the standard normal table as needed. The probability is %. (Enter your response rounded to two decimal places.)

A car manufacturer uses a continuous review system to manage inventory of one of its engine's component. The demand for the component is normally distributed with an average of 51 units per week. Current lead time is 2 weeks. The standard deviation of demand is 13 units. a. What is the probability of demand exceeding the reorder point when the reorder quantity is set at 143 units? Refer to the standard normal table as needed. The probability is%. (Enter your response rounded to two decimal places.) b. What is the probability of demand exceeding the 143 units, if the supplier delays the lead time to 3 weeks? Refer to the standard normal table as needed. The probability is %. (Enter your response rounded to two decimal places.)

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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A car manufacturer uses a continuous review system to manage inventory of one of its engine's component. The demand for the component is normally distributed with an average of 51 units per week. Current lead time is 2 weeks. The standard deviation of demand is 13 units a. What is the probability of demand exceeding the reorder point when the reorder quantity is set at 143 units? Refer to the standard normal table as needed. The probability is %. (Enter your response rounded to two decimal places.) b. What is the probability of demand exceeding the 143 units, if the supplier delays the lead time to 3 weeks? Refer to the standard normal table The probability is%. (Enter your response rounded to two decimal places.) needed
Transcribed Image Text:A car manufacturer uses a continuous review system to manage inventory of one of its engine's component. The demand for the component is normally distributed with an average of 51 units per week. Current lead time is 2 weeks. The standard deviation of demand is 13 units a. What is the probability of demand exceeding the reorder point when the reorder quantity is set at 143 units? Refer to the standard normal table as needed. The probability is %. (Enter your response rounded to two decimal places.) b. What is the probability of demand exceeding the 143 units, if the supplier delays the lead time to 3 weeks? Refer to the standard normal table The probability is%. (Enter your response rounded to two decimal places.) needed
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