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QUESTION
I am having trouble trying to determine which process to use to solve the following problem, can you help?
I am having trouble trying to determine which process to use to solve the following problem, can you help?
3. The monthly sales of mufflers in the Richmond, VA area follow the normal distribution with a mean of 1200 and a standard deviation of 225. The manufacturer would like to establish inventory levels such that there is only a 5% chance of running out of stock. Where the manufacturer should set the inventory levels?
