Probability of stock out-what is the reorder point

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Ned's chain of natural food stores sells shelled peanuts by the pound. Historically, Ned has observed daily demand is normally distributed with a mean of 233 pounds and a standard deviation of 24 pounds. Lead time is 9 days. If Ned can tolerate a 11% probability of stockout, what is the reorder point? (Note: Use two decimal place z-value.)

Reference no: EM132116293

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