Reference no: EM1393068
A: To revise an existing inventory system, a company needs to know something about the lead time for orders it places for a critical part. The company looks at the last 20 orders placed and finds that the lead time in days are:
1,4,6,7,4,5,6,8,4,5,7,8,4,6,7,10,4,6,7,11.
What is the mean lead time for an order?
What is the median lead time for an order?
What is the mode lead time for an order?
What is the standard deviation for an order?
Prob. B A normal population has a mean of 20.0 and a standard deviation of 4.0.
Compute the z-value associated with 25.
Compute the z-value associated with 18.
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