The PsiTarget(.) Function in Analytic Solver Platform

question 15

Multiple Choice

The PsiTarget(.) function in Analytic Solver Platform

• A) returns the cumulative probability of a specified distribution cell being less or equal to the specified target value
• B) returns the cumulative probability of a specified distribution cell being equal to or larger than the specified target value
• C) returns the cumulative probability of a specified distribution cell being equal to the specified target value
• D) returns the probability of a specified distribution cell being equal to the specified target value

---

Definitions:

Cost of Overstocking

The expenses associated with holding excessive inventory, such as storage costs, insurance, and potential obsolescence.

Cost of Understocking

The financial losses and opportunity costs incurred from not having sufficient inventory to meet demand, including lost sales and customer dissatisfaction.

Product Availability

The extent to which a product can be purchased by consumers, influenced by inventory levels and supply chain efficiency.

Forecast Error

The gap between real results and what was forecasted by predictive models.