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

question 29

Short Answer

The daily demand for a product is normally distributed with a mean of 80 and a standard deviation of 8. Constant lead time is 4 days. The cost of placing an order is $20. The item costs $8 and the carrying rate per year is 10% of the item cost. Determine the reorder point to satisfy 90% of the orders.

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Definitions:

Quality-Caring Model

A nursing model that emphasizes the importance of the relationship between patient and caregiver in achieving positive health outcomes.

Cared For

A state in which an individual's health, well-being, and emotional needs are attentively addressed and supported.

Core Concept

Core Concept refers to the fundamental idea or principle that is central to a particular field or study.

Quality-Caring Model

A framework in nursing that emphasizes the importance of caring and relationships in achieving quality healthcare outcomes.