Answered: Pep Zone sells auto parts and supplies…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.4: Distributions Of Data

Problem 19PFA

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Question

Pep Zone sells auto parts and supplies including a popular multi-grade motor oil. When the stock of
this oil drops to 40 gallons, a replenishment order is placed. The store manager is concerned that sales
are being lost due to stockouts while waiting for a replenishment order. It has been determined that
demand during replenishment lead-time is normally distributed with a mean of 25 gallons and a
standard deviation of 9 gallons. The manager would like to know the probability of a stockout during
replenishment lead-time. In other words, what is the probability that demand during lead-time will
exceed 30 gallons?

Use Microsoft Excel in computing the following problems. Show screenshots of your answer.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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