The risk of a stockout is the complement of a. the service level ...

[ARLKQ]

The risk of a stockout is the complement of
 a. the service level
 b. the chance of using safety stock
 c. the chance of underestimating demand
  d. the risk of a planned shortage

Question 2

Two percent of the parts produced by a machine are defective. Twenty parts are selected at random. Use the binomial probability tables to answer the following questions.
 a. What is the probability that exactly 3 parts will be defective?
  b. What is the probability that the number of defective parts will be more than 2 but fewer than 6?
  c. What is the probability that fewer than 4 parts will be defective?
  d. What is the expected number of defective parts?
  e. What is the variance for the number of defective parts?

[C.mcnichol98]

Answer to Question 1

a

Answer to Question 2

a. 0.0065
b. 0.0071
c. 0.9974
d. 0.4
e. 0.392

[ARLKQ]

YES! Correct, THANKS for helping me on my review

[pratush dev]

Thanks for the timely response, appreciate it