Grokers grocery store has soup sales averaging 2,000 cans per week, with a standard deviation of 300 cans. The cost of a stock-out is four times greater than the cost of being over-stocked. Store management wants to set the upper and lower stocking levels, such that there isa 95% probability that weekly sales will fall between these levels. What are these levels
Grokers grocery store has soup sales averaging 2,000 cans per week, with a standard deviation of 300 cans. The cost of a stock-out is four times…
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