A wine companys daily demand is normally distributed with a, Ask an Expert

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A wine company's daily demand is normally distributed with a mean of 18 bottles, and a standard deviation of 4 bottles. This company checks their winery's stock every 30 days. In their most recent visit, there was 25 bottles in stock. The lead time is 2 days. Can you determine an optimal order size for this company that will enable them to limit the probability of a stockout to 5%?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M9608157

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