A store reorders some type of chemical when the amount on-hand reaches 500 pounds. Average daily usage is 60 pounds, which is normally distributed with a standard deviation of six pounds per day. Lead time is also normally distributed with a mean of seven days and a standard deviation of one day. What is the risk of a stockout? Note: Please use "sqrt" for square root in equations, such as sqrt(12 * 3/5).
A store reorders some type of chemical when the amount on-hand reaches 500 pounds. Average daily usage is 60 pounds, which is normally distributed with a standard deviation of six pounds per day. Lead time is also normally distributed with a mean of seven days and a standard deviation of one day. What is the risk of a stockout? Note: Please use "sqrt" for square root in equations, such as sqrt(12 * 3/5).
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.6: Exponential And Logarithmic Equations
Problem 70E
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