Cashback Offer from 10th to 25th February 2021. Get Flat 20% Cashback credited to your account for a minimum transaction of $80. Post Your Question Today!

Question DetailsNormal
$ 3.00

Suppose that the demand for a company’s product in weeks 1, 2, and 3 are each normally distributed

Question posted by
Online Tutor Profile
request

Suppose that the demand for a company’s product in weeks 1, 2, and 3 are each normally distributed and the mean demand during each of these three weeks is 50, 45, and 65, respectively. Suppose the standard deviation of the demand during each of these three weeks is known to be 10, 5, and 15, respectively. It turns out that if we can assume that these three demands are probabilistically independent then the total demand for the three week period is also normally distributed. And, the mean demand for the entire three week period is the sum of the individual means. Likewise, the variance of the demand for the entire three week period is the sum of the individual weekly variances. But be careful! The standard deviation of the demand for the entire 3 week period is not the sum of the individual standard deviations. Square roots don’t work that way!

Now, suppose that the company currently has 180 units in stock, and it will not be receiving any further shipments from its supplier for at least 3 weeks. What is the probability that the company will run out of units?

Available Answer
$ 3.00

[Solved] Suppose that the demand for a company’s product in weeks 1, 2, and 3 are each normally distributed

  • This Solution has been Purchased 1 time
  • Submitted On 03 Jan, 2015 11:00:55
Answer posted by
Online Tutor Profile
solution

Let X: demand for 3 weeks
E(X) = mean of X= 45+50+65 =160
Var(X) = ( 10...

Buy now to view the complete solution
Other Similar Questions
User Profile
NUMBE...

Suppose that the population of the scores of all high school seniors who took the SAT Math test A++

Art 1:  Multiple Choice.  Circle the letter corresponding to the best answer. (Z*)() = 25.76     Z* = 2.576 Normalcdf(-2.576, 2.576, 0,1) = 0.99 in the middle with 0.005 in each tail. 1.   Suppose that the ...
User Profile
Beam7...

Suppose there are two Biostatistics classes of 18 students and 12 students

Please see attached Thank you!...........................
User Profile
Beam7...

Suppose that we have found that in Jill's remote log-ins to a certain computer

Please see attached Thank you!...........................
User Profile
Beam7...

Suppose the population fraction of people without a certain disease

Please see attached Thank you!.........................
User Profile
Beam7...

Suppose that 30 percent of the bottles produced in a certain plant are defective

Please see attached Thank you!.........................

The benefits of buying study notes from CourseMerit

homeworkhelptime
Assurance Of Timely Delivery
We value your patience, and to ensure you always receive your homework help within the promised time, our dedicated team of tutors begins their work as soon as the request arrives.
tutoring
Best Price In The Market
All the services that are available on our page cost only a nominal amount of money. In fact, the prices are lower than the industry standards. You can always expect value for money from us.
tutorsupport
Uninterrupted 24/7 Support
Our customer support wing remains online 24x7 to provide you seamless assistance. Also, when you post a query or a request here, you can expect an immediate response from our side.
closebutton

$ 629.35