Solved: If you want to have only a 5 percent chance of running out, Basic Statistics

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If you want to have only a 5 percent chance of running out

Annual demand for a drug is normally distributed with a mean of 40,000 units and a standard deviation of 10,000 units.

a) What is the probability that annual demand is from 35,000 through 49,000 units?

b) If you want to have only a 5 percent chance of running out of the drug, at what level should you set annual production?

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Basic Statistics: If you want to have only a 5 percent chance of running out

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