For a randomly selected day, let X represent the difference between the number of items in stock and demand for a specific product your company sells When X is zero, the supply matches the demand. Negative and positive X values indicate under-stocked and overstocked days, respectively. The pmf for X is: x -2 -1 0 1 2 p(x) .10 .15 .45 .10 .20 a) Find the probability you are under-stocked on a given day b) Management wants supply to equal demand (exactly) on more than 50% of the days. Is your company meeting that challenge? Explain. c) Find the expected difference between the number of items in stock and the demand for the product.
For a randomly selected day, let X represent the difference between the number of items in stock and demand for a specific product your company sells When X is zero, the supply matches the demand. Negative and positive X values indicate under-stocked and overstocked days, respectively. The pmf for X is: x -2 -1 0 1 2 p(x) .10 .15 .45 .10 .20 a) Find the probability you are under-stocked on a given day b) Management wants supply to equal demand (exactly) on more than 50% of the days. Is your company meeting that challenge? Explain. c) Find the expected difference between the number of items in stock and the demand for the product.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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For a randomly selected day, let X represent the difference between the number of items in stock and demand for a specific product your company sells When X is zero, the supply matches the demand. Negative and positive X values indicate under-stocked and overstocked days, respectively.
The pmf for X is:
| x | -2 | -1 | 0 | 1 | 2 |
| p(x) | .10 | .15 | .45 | .10 | .20 |
a) Find the probability you are under-stocked on a given day
b) Management wants supply to equal demand (exactly) on more than 50% of the days. Is your company meeting that challenge? Explain.
c) Find the expected difference between the number of items in stock and the demand for the product.
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