Running short of the item on the day of the sale

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A department store will place a sale item in a special display for a one-day sale. Previous experience suggests that 32 percent of all customers who pass such a special display will purchase the item. If 2,824 customers will pass the display on the day of the sale, and if a one-item-per-customer limit is placed on the sale item, how many units of the sale item should the store stock in order to have at most a 1 percent chance of running short of the item on the day of the sale? Assume here that customers make independent purchase decisions. (Round your answer to nearest whole number.)

Number of units

Reference no: EM131283370

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Running short of the item on the day of the sale : A department store will place a sale item in a special display for a one-day sale. Previous experience suggests that 32 percent of all customers who pass such a special display will purchase the item. how many units of the sale item should the store ..

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