Question

In: Statistics and Probability

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?

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Expert Solution

orchestra answered 2 years ago
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