Where should the manufacturer set the inventory levels


The monthly sales of mufflers in the Richmond, Virginia, area follow the normal distribution with a mean of 1,200 and a standard deviation of 225. The manufacturer would like to establish inventory levels such that there is only a 2.5 percent chance of running out of stock. Where should the manufacturer set the inventory levels?

Request for Solution File

Ask an Expert for Answer!!
Basic Statistics: Where should the manufacturer set the inventory levels
Reference No:- TGS0115916

Expected delivery within 24 Hours