If Mean Daily Demand Is 20 Units,lead Time Is 7

question 48

Multiple Choice

If mean daily demand is 20 units,lead time is 7 days,the standard deviation of demand during lead time is 12.0 units,and management has a preferred service level of 99.9% (z = 3) ,the reorder (R) level for the item would be

• A) 176.00 units.
• B) 56.00 units.
• C) 152.00 units.
• D) 104.00 units.

Recognize the reasons why businesses expand into international markets.

Identify the various strategies for entering international markets, including importing, exporting, global sourcing, and licensing.

Appreciate the role of cultural awareness and global management skills in international business.

Understand the economic and job impacts of international business practices, such as insourcing and global sourcing.

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Definitions:

Standard Normal Distribution

A specific type of normal distribution with a mean of 0 and a standard deviation of 1, used in many areas of statistical analysis.

Mean

The arithmetic average of a set of values, calculated by adding them together and dividing by the number of terms.

Normal Distribution

It's a probability distribution with symmetry about the mean, proving that data points near the mean have a higher frequency of occurrence compared to those further away.

Mean

The arithmetic average of a set of numbers, obtained by dividing the sum of the numbers by the count of numbers.