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Weekly demand for a product is Normally distributed with mean 500 and standard deviation 100. This company observes inventory and places an order every week, but it takes 3 weeks to actually receive the order. This company is using an order-up-to policy for inventory replenishment. Currently, there are 150 units of inventory. How many units should this company order at this time to achieve 99.7% in-stock probability?
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Weekly demand for a product is Normally distributed with mean 500 and standard deviation 100. This c...
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