The Daily Demand for a Company's Product Follows the Probability

question 25

Multiple Choice

The daily demand for a company's product follows the probability distribution below: Use the following random numbers to simulate the product's demand for the next five weeks: 72, 27, 93, 17, 47.
If the first random number interval begins with 0 then the estimated average weekly demand for the simulated five week period is

• A) 40.
• B) 46.
• C) 50.
• D) 56.

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Definitions:

Guiding Ideas

Fundamental principles or concepts that direct an individual's, group's, or organization's decisions, actions, and strategies.

Regulations

Rules and directives made and maintained by an authority.

Organization's Philosophy

The fundamental beliefs, values, and principles that guide an organization's actions and decision-making processes.

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