Bailey Office Ltd. sells office supplies including a popular printer refill ink. Weekly demand for the ink is normally distributed with a mean of 60 litres and a standard deviation of 24 litres. When the stock of this ink drops to 80 litres, Bailey Office Ltd places a replenishment order. The delivery from the supplier takes place within one week of the order being placed. The store manager is concerned that sales are being lost due to stockouts while waiting for orders to be delivered. 
(a) What is the probability of a stockout occurring? Explain in detail your approach to calculating the probability. (5 marks) 
(b) If the store manager wants the probability of a stockout to be no more than 5%, at what level of stock should he place the replenishment order? (3 marks) 
(c) Provide a brief personal reflection on how this module has helped you to both analyse quantitative data and to interpret and present results from such analyses. 

Why Choose Us

  • 100% non-plagiarized Papers
  • 24/7 /365 Service Available
  • Affordable Prices
  • Any Paper, Urgency, and Subject
  • Will complete your papers in 6 hours
  • On-time Delivery
  • Money-back and Privacy guarantees
  • Unlimited Amendments upon request
  • Satisfaction guarantee

How it Works

  • Click on the “Place Order” tab at the top menu or “Order Now” icon at the bottom and a new page will appear with an order form to be filled.
  • Fill in your paper’s requirements in the "PAPER DETAILS" section.
  • Fill in your paper’s academic level, deadline, and the required number of pages from the drop-down menus.
  • Click “CREATE ACCOUNT & SIGN IN” to enter your registration details and get an account with us for record-keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
  • From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.