In order to plan properly for production, a firm must have adequate inventory. One factor influencing the inventory policy of a firm is the variability of lead time, which is the time between when goods are ordered and when they actually arrive. A computer manufacturing firm is investigating the possibility of having its disk drives shipped from Taiwan using ShipCo lines. The computer firm has obtained shipping information for a sample of 48 orders made to ShipCo by comparable computer firms. The lead times are summarized in the histogram below: Frequency 20 20+ 15+ 12 10+ 5- 4 4 4 12 16 20 24 Lead time (in days) Based on this histogram, estimate the standard deviation of the sample of 48 lead times. Carry your intermediate computations to at least four decimal places, and round your answer to at least one decimal place.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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In order to plan properly for production, a firm must have adequate inventory. One factor influencing the inventory policy of a firm is the variability of lead time,
which is the time between when goods are ordered and when they actually arrive.
A computer manufacturing firm is investigating the possibility of having its disk drives shipped from Taiwan using ShipCo lines. The computer firm has obtained
shipping information for a sample of 48 orders made to ShipCo by comparable computer firms. The lead times are summarized in the histogram below:
Frequency
20
20-
15-
12
10-
5
4
4
0-
4
12
16
20
24
Lead time (in days)
Based on this histogram, estimate the standard deviation of the sample of 48 lead times.
Carry your intermediate computations to at least four decimal places, and round your answer to at least one decimal place.
Transcribed Image Text:In order to plan properly for production, a firm must have adequate inventory. One factor influencing the inventory policy of a firm is the variability of lead time, which is the time between when goods are ordered and when they actually arrive. A computer manufacturing firm is investigating the possibility of having its disk drives shipped from Taiwan using ShipCo lines. The computer firm has obtained shipping information for a sample of 48 orders made to ShipCo by comparable computer firms. The lead times are summarized in the histogram below: Frequency 20 20- 15- 12 10- 5 4 4 0- 4 12 16 20 24 Lead time (in days) Based on this histogram, estimate the standard deviation of the sample of 48 lead times. Carry your intermediate computations to at least four decimal places, and round your answer to at least one decimal place.
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