Business, 03.07.2021 02:10 campilk5

Consider an item that has an average demand rate that does not change with time. Suppose that demands in consecutive weeks can be considered as independent, normally distributed variables. Observations of total demand in each of 15 weeks are as follows: 89 102 107 146 155 64 78 122 78 119 76 80 60 115 86. a. Estimate the mean and standard deviation of demand in a 1-week period and use these values to establish the reorder point of a continuously reviewed item with L

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Consider an item that has an average demand rate that does not change with time. Suppose that demand...

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