SOLUTION: Suppose the monthly demand for automobile tires at a tire dealer is normally distributed with a mean of 270 tires and a standard deviation of 50 tires. How many tires must the stor

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Question 868935: Suppose the monthly demand for automobile tires at a tire dealer is normally distributed with a mean of 270 tires and a standard deviation of 50 tires. How many tires must the store have in inventory at the beginning of each month in order to meet demand 95 percent of the time?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!


Hi

z = invNorm(.95) = 1.6449

1.6449 = (X - 270)/50

1.6449*50 + 270 = X = 353(rounded Up) on hand