User Account

All Pages

How many units of the item should be kept in the storage

Assignment Help Finance Basics
Reference no: EM132679366

To manage perishable items at the storages, local grocers decide on the number of items to keep in stock on weekly basis. Suppose that the weekly demand for the item is normally distributed with a mean of 70 units and a standard deviation of 10 units. If the grocer wants to control the probability of stock out of the item to no more than 6% in a week, how many units of the item should be kept in the storage?

Reference no: EM132679366

Questions Cloud

Discuss the audit procedure that auditor needs to perform : A property owned by Cook's Furniture Ltd was sold to Lidia Preston, Discuss the audit procedure that the auditor needs to perform in relation to each situation.
Find and list the health care funding methods used in canada : List the health care funding methods used in Canada. State the health care funding method used in your jurisdiction and describe payroll implication, if any.
Create a report to the management of the organisation : Create a report to the management of the organisation from which the process comes - Modelling should be done in BPMN and models created using Microsoft Visio.
How much did January transactions increase or decrease : Billed insurance companies for sales commissions earned, $12,500. How much did January's transactions increase or decrease retained earnings
How many units of the item should be kept in the storage : If the grocer wants to control the probability of stock out of the item to no more than 6% in a week, how many units of the item should be kept in the storage?
Discuss the audit procedure that auditor needs to perform : A property owned by Cook's Furniture Ltd was sold to Lidia Preston, Discuss the audit procedure that the auditor needs to perform in relation to each situation.
What is the probability that competitor : If the competitor does not bid on the contract. If you win the contract, what is the probability that your competitor did not bid?
What is the probability : If an order of 40 parts is received, what is the probability that 2 or 3 or 4 of these parts are defective?
Calculate the immediate expensing allowed : Calculate the immediate expensing allowed under Section 179. Johnson Controls, a sole proprietorship, acquired a piece of equipment on March

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd