If the bookstore stocks 86 copies of the magazine, for what percentage of weeks will there be an insufficient number of copies to meet demand?

Question

i need help on this problem. It's for statistics

Answer 1

The percentage of weeks that there will be insufficient magazines to meet demand turns out to be those weeks when demand is two standard deviations above the mean sales.If we assume normal distribution of the data, then with mean sales of 75 inventory of 86, and a standard deviation of six, it would take two standard deviations above mean sales to reach a demand of 87 magazines, and that is when the store would not have enough magazines in stock. With normally distributed data the area under the curve beyond two standard deviations above the mean demand would give you the percentage of weeks that there would be insufficient stock, and that would be 2.4%. Hope that helps.