If the average of our sales is 10 per month and the standard deviation is 10...

Question

Question

If the average of our sales is 10 per month and the standard deviation is 10 how much inventory would we need to ship 95% complete and on time?

If our sales are 10 per month and we want to ship 99.7% complete and on time and our standard deviation is 5 how much inventory would be need?

math Statistics-And-Probability

Answer 1

Answer #1

Page No.: Date: 11 1 given dreta: © jalo 10 . Ploc&?) = 0.95 ...221.645 From normal distribution table) 2=OCOC 2. 1645 = 06-1

Answer 2

Similar Homework Help Questions

Suppose we know that, historically, the standard deviation of annual rainfall in a particular state is...

Suppose we know that, historically, the standard deviation of annual rainfall in a particular state is 2 inches. We measure rainfall in that area for 35 years, and we find an average of 37 inches per year. What is the 95% confidence interval for the average rainfall in that state given our sample? How many years of data would we need if we want to estimate the actual average within less than plus-or-minus 0.5 inches at 95% confidence?
The average return of Intermediate-term government bonds is 5.4% per year and the standard deviation is...

The average return of Intermediate-term government bonds is 5.4% per year and the standard deviation is 3.2%. What range of returns would you expect to see 68 percent of the time for Intermediate-term government bonds? What about 99.7 percent of the time?
Credit card holders carry an average debt of $3,027 per month, with a standard deviation of...

Credit card holders carry an average debt of $3,027 per month, with a standard deviation of $1,060. A credit card company is looking to drop its accounts with their customers who are not using their cards as much, that is customers whose monthly debts are in the bottom 2.5% of all accounts. Use a calculator to find how much debt must a customer have to be dropped by the credit card company if the company only looks at 30 accounts.

. the average demand for an item is 8 per day. The standard deviation of demand...

. the average demand for an item is 8 per day. The standard deviation of demand is 3 per day, and the order lead time is four days. The service level is 95%. What should be the reorder point be? a- 18 b- 24 c- 32 d- 38 E- 41
A data distribution has a mean of 10 and a standard deviation of 1. Suppose we...

A data distribution has a mean of 10 and a standard deviation of 1. Suppose we do not know if the distribution is bell-shaped or not. Estimate the proportion of data that falls between 9 and 11. A. Cannot be determined B. 95% C. 99.7% D. 68%
On average, American's watch 10 complete baseball games per season, with a standard deviation of 15...

On average, American's watch 10 complete baseball games per season, with a standard deviation of 15 games. What is the probability that a sample of 100 Americans watch an average of 12 games or more?

In a factory the daily average production is 146 units, with a standard deviation of 10...

In a factory the daily average production is 146 units, with a standard deviation of 10 units, following an unknown distribution. How much total production can we guarantee for 40 days with a 0.90 probability? Probability statement used is . The value from the table is . The total production is and the average daily production is .
A population is estimated to have a standard deviation of 10. We want to estimate the...

A population is estimated to have a standard deviation of 10. We want to estimate the population mean within 2, with a 95% level of confidence. How large a sample is required? a. 98 b. 97 c. 96 d. 95
An investment is expected to generate an average return of 10% with a standard deviation of...

An investment is expected to generate an average return of 10% with a standard deviation of 5%. With 95% confidence level, the actual rate of return will fall between: A. -5% to 25%. B. -10% to 30%. C. 0% to 20%. D. 5% to 15%.

A recent national survey found that parents read an average (mean) of 10 books per month...

A recent national survey found that parents read an average (mean) of 10 books per month to their children under five years old. The population standard deviation is 5. The distribution of books read per month follows the normal distribution. A random sample of 25 households revealed that the mean number of books read last month was 12. At the .01 significance level, can we conclude that parents read more than the average number of books to their children?