The demand for a product of carolina industries varies, Ask an Expert

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The demand for a product of Carolina Industries varies greatly from month to month.

Based on the past two years of data, the following shows the monthly demand at Carolina

Industries.

Unit Demand - # Months

300 - 4

400 - 6

500 - 9

600 - 5

a. If the company places monthly orders equal to the expected value of the monthly demand, what should Carolina's monthly order quantity be for this product?

b. What are the variance and the standard deviation for the number of units demanded?

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M9992642

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