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Business, 17.12.2021 01:00 dinadenoirefan
Daily demand for a product is normally distributed with a mean of 115 and a standard deviation of 12. Assume that sales occur over 300 days per year. Find the order quantity for 95.053% probability of not stocking out during lead time. Lead time is 8 days, the cost of placing an order is $25, and annual holding cost is $1.00 per unit.
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Daily demand for a product is normally distributed with a mean of 115 and a standard deviation of 12...
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