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Author Question: A gourmet food store uses a one-week periodic review system for its supply of coffee beans. There is ... (Read 178 times)

sc00by25

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on: Jun 24, 2018
A gourmet food store uses a one-week periodic review system for its supply of coffee beans. There is a five-day lead time for orders, and the store will allow two stockouts per year.
 a. What is the probability of a stockout associated with each replenishment decision?
  b. What is the replenishment level if demand during the review and lead-time periods is normally distributed with mean 120 pounds and standard deviation 8 pounds?
  c. How many pounds of beans should be ordered if there are 42 pounds of beans on hand?

Question 2

Assume that you have a binomial experiment with p = 0.4 and a sample size of 50 . The variance of this distribution is
 a. 20
  b. 12
  c. 3.46
   d. 2.83


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sultansheikh

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Reply #1 on: Jun 24, 2018
Answer to Question 1

a. 2/52 = .0385
b. M = 120 + 1.77 (8) = 134.16
c. 134  40 = 94

Answer to Question 2

b


sc00by25

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Reply 2 on: Jun 24, 2018
YES! Correct, THANKS for helping me on my review

tandmlomax84

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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