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tistorically, demand has averaged 4602 units per week with a standard deviation of 581. the company currently has 3823 units in stock. what is the probability of a stockout?

Sagot :

Probabilities can be expressed as proportions that range from 0 to one

Mean = μ = 4602

Standard deviation = σ = 581

Observed value = X = 3832

Using z-score formula, Z = (X - μ) / σ

Z = (3832 - 4602) / 581

Z = -1.32

Since probability can't be in negative, therefore the details in the questions are wrongly mentioned.

A possibility is quite a number that reflects the hazard or likelihood that a selected event will arise. Probabilities can be expressed as proportions that range from 0 to one, and they also can be expressed as chances starting from 0% to 100%

Know more on probability calculation - https://brainly.com/question/23409384

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