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One of Specialty's managers felt that the profit potential was so great that the order quantity should have a 70 percent chance of meeting demand and only a 30 percent chance of any stock-outs What qu?
Wiki User
∙ 10y ago
p(x < k) =0.70
p(z < (k-20,000)/5102 ) = 0.70
(k-20,000)/5102 = 0.5244
k = 20,000 + (5102* 0.5244) = (20000 + 2675) = 22,675
Wiki User
∙ 10y ago
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