Solved: Find probbility that supply is insufficient to meet demand, Basic Statistics

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Find probbility that supply is insufficient to meet demand

I have 100 units of a product in stock. The demand D for the item is a continuous random variable with the following density function:

If {1/40 if 80<=d<=120

{0 otherwise

a Find the probbility that supply is insufficient to meet demand.

b What is the expected number of items sold? What is the variance of the number of items sold?

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Basic Statistics: Find probbility that supply is insufficient to meet demand

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Solution Preview :

Prepared by a verified Expert

Basic Statistics: Find probbility that supply is insufficient to meet demand

Reference No:- TGS0683552

Have a Question? (oR Write a Review)

Recent Questions Asked Basic Statistics

Q : What was the selling price of the job

Q : What facts are relevant to deciding whether

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Q : What is the departmental overhead costs

Q : Find probbility that supply is insufficient to meet demand

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Solution Preview :

Prepared by a verified Expert

Basic Statistics: Find probbility that supply is insufficient to meet demand

Reference No:- TGS0683552

Recent Questions Asked Basic Statistics

Q : What was the selling price of the job

Q : What facts are relevant to deciding whether

Q : Confidence interval for the proportion of all patients

Q : What is the departmental overhead costs

Q : Find probbility that supply is insufficient to meet demand

Q : What amount of unrealized intra-entity inventory

Q : Determine the fixed manufacturing costs

Q : Calculate the relative risk of coronary artery disease

Q : How would you handle the ethical issues involved

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