Average Daily Demand for a Product Is Normally Distributed with a Mean

question 161

Essay

Average daily demand for a product is normally distributed with a mean of 20 units and a standard deviation of 3 units.Lead time is fixed at 25 days.What reorder point provides for a service level of 95 percent?

---

Definitions:

Wilhelm Wundt

Recognized as the father of experimental psychology, he established the first psychology laboratory in Leipzig, Germany, in 1879, marking the formal beginning of psychology as a scientific discipline.

Structuralism

Wundt’s approach to discovering the basic elements, or structures, of mental processes.

Wilhelm Wundt

A German psychologist and philosopher, often considered the father of experimental psychology, who founded the first formal laboratory for psychological research.

Neuroscience

The scientific study of the structure, function, development, genetics, and biochemistry of the nervous system, emphasizing that the brain and nervous system are central to understanding behavior, thought, and emotion.