The same supermarket also sells nuts and, as their main supplier has recently gone Bankrupt, they...

The same supermarket also sells nuts and, as their main supplier has recently gone Bankrupt, they are having difficulties sourcing walnuts, one of their bestselling nuts, with average daily sales of 10 kilos and standard deviation of 1.05 kilos.

i. Calculate the probability that the supermarket will run out of walnuts on any day, if they are able to buy 11 kilos per day.

ii. Calculate how many kilos of walnuts the supermarket needs to buy if they would like to have a maximum 4% chance of running out?

Solutions

Expert Solution

orchestra answered 2 years ago

Next > < Previous

Related Solutions

A local machine shop buys hex nuts and molly screws from the same supplier. The hex...

A local machine shop buys hex nuts and molly screws from the same supplier. The hex nuts cost 20 cents each and the molly screws cost 40 cents each. A setup cost of $150 is assumed for all orders. This includes the cost of tracking and receiving the orders. Holding costs are based on a 15 percent annual interest rate. The shop uses an average of 15,000 hex nuts and 12,000 molly screws annually. a. Determine the optimal size of...

Georgina has recently gone to her primary care provider for her annual physical. As part of...

Georgina has recently gone to her primary care provider for her annual physical. As part of routine examination a vision exam is given. Georgina has always had perfect vision but is having some difficulty with this test today. Upon further questioning, the medical assistant learns that Georgina has been experiencing blurred vision for quite some time and often sees what she describes as rings when she is near bright light. On physical examination the provider also notices a cloudy appearance...

[Investment Planning] Temoc is a high tech company that has recently gone public, and trades using...

[Investment Planning] Temoc is a high tech company that has recently gone public, and trades using the symbol TEMO. Comet is a rival high tech company that has also recently gone public, and trades using the symbol COME. Currently, the price of one share of each company is $10. Based on extensive market research and financial analysis, you have forecast that the price of one share of TEMO one year from now can be modeled as a normal distribution, with...

Shane’s Garden Tools & Accessories is a wholesale supplier of garden tools and also has a...

Shane’s Garden Tools & Accessories is a wholesale supplier of garden tools and also has a small shopfront that sells household ornaments. Jane Helm has been the bookkeeper for over ten years, and because the company is small Jane performs all daily accounting tasks manually including invoicing and receipting of all monies. Shane, the owner of the company, supervises Jim, the stock manager and Trish, the shopfront manager, but he also spends a lot of his time managing his other...

The population mean wait time to check out of a supermarket has been 10.73 minutes. Recently...

The population mean wait time to check out of a supermarket has been 10.73 minutes. Recently in an effort to improve the waiting time, the supermarket has experimented with a system in which there is a single waiting line with multiple checkout servers. A sample of 25 customers was selected, and their mean wait time to check out was 12.1 minutes. Assume a population standard deviation of 5.8 minutes. At the 0.05 level of significance, is there evidence that the...

The supplier that has the lower inventory cost will also have the lower total cost. True...

The supplier that has the lower inventory cost will also have the lower total cost. True False

Roberts currently manufactures a subcomponent that is used in its main product. A supplier has offered...

Roberts currently manufactures a subcomponent that is used in its main product. A supplier has offered to supply all the subcomponents needed at a price of $42. Roberts currently produces 100,000 subcomponents at the following manufacturing costs: Per unit Direct materials $ 15.00 Direct labor 9.00 Variable manufacturing overhead 10.00 Fixed manufacturing overhead 15.00 Unit cost $ 49.00 If Roberts has no alternative (no opportunity costs) uses for the manufacturing capacity, what would be the profit impact of buying the...

1. A salsa producer has just received a shipment of tomatoes from their main supplier. If...

1. A salsa producer has just received a shipment of tomatoes from their main supplier. If the salsa company finds convincing evidence that more than 7% of the tomatoes are damaged and unusable for the salsa making process, the truck will have to be sent away and a new shipment will have to be sent out by the supplier. An inspection reveals that 49 tomatoes are unusable when the supervisor selects a random sample of 500 tomatoes from the truck....

Fraser Corp. is a traditional retailer that recently also started an Internet-based subsidiary that sells its...

Fraser Corp. is a traditional retailer that recently also started an Internet-based subsidiary that sells its product online. Its sales in June 2018 were $700,000. Fraser, the company president, is preparing for a meeting with Tom Scott, a loan officer with Anchor Bank, to review quarter end financing requirements. After discussions with the company’s marketing and finance managers, sales over the next three months were forecasted as follows. Sales in July 2018: $1,250,000, sales in August 2018: $2,250,000 and sales...

Fraser Corp. is a traditional retailer that recently also started an Internet-based subsidiary that sells its...

Fraser Corp. is a traditional retailer that recently also started an Internet-based subsidiary that sells its product online. Its sales in June 2018 were $710,000. Fraser, the company president, is preparing for a meeting with Tom Scott, a loan officer with Anchor Bank, to review quarter end financing requirements. After discussions with the company’s marketing and finance managers, sales over the next three months were forecasted as follows. Sales in July 2018: $1,250,000, sales in August 2018: $2,250,000 and sales...

Subjects