A warehouse manager needs to simulate the demand placed on a product that does not fit standard models.The concept being measured is "demand during lead time," where both lead time and daily demand are variable.The historical record for this product suggests the following probability distribution.Convert this distribution into random number intervals.
Definitions:
Binomial Distribution
A probability distribution that summarizes the likelihood of a variable, which has only two possible outcomes, across a number of trials.
Normal Approximation
An approach in statistics for estimating the probability of different outcomes under the assumption that the data follow a normal distribution.
Symmetrical Distribution
A distribution where the left and right sides are mirror images of each other, indicating equal distribution around the central point.
University Faculty
University faculty refers to the professors, lecturers, and academic staff responsible for teaching courses and conducting research within a college or university.
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