Where must the manufacturer set inventory levels


The monthly sales of mufflers in the Richmond, VA area follow the normal distribution with a mean of 1200 and a standard deviation of 225.  The manufacturer would like to establish inventory levels such that there is only a 5% chance of running out of stock.  Where should the manufacturer set the inventory levels?

Request for Solution File

Ask an Expert for Answer!!
Mathematics: Where must the manufacturer set inventory levels
Reference No:- TGS0546720

Expected delivery within 24 Hours