Question: The monthly sales of mufflers in the Richmond, VA area follow the normal distributionwith a meanof 1200 and a standard deviationof 225. The manufacturer would like to establish inventory levels such that there is only a 5 percent chance of running out of stock. Where should the manufacturer set the inventory levels?
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The monthly sales of mufflers in the Richmond, VA area follow the normal distribution with a mean of 1200 and a standard deviation of 225. The manufacturer would …
This solution helps solve the 95th percentile of a normal distribution.