A Distribution of Lead Times in an Inventory Problem Indicates

question 5

Multiple Choice

A distribution of lead times in an inventory problem indicates that lead time was 1 day 20 percent of the time,2 days 30 percent of the time,3 days 30 percent of the time,and 4 days 20 percent of the time.This distribution has been prepared for Monte Carlo analysis.The first four random numbers drawn are 06,63,57,and 02.What is the average lead time of this simulation?

• A)1.75 days
• B)2 days
• C)3 days
• D)3.5 days
• E)8 days

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Definitions:

Representation

An act of depicting or symbolizing something, often through language or imagery.

Cognitive Theories

Cognitive theories are psychological frameworks that emphasize the importance of mental processes in understanding behavior, such as how people perceive, think, understand, and remember.

Controlled Observations

Observational research methods where variables are manipulated or controlled in order to investigate their effects on other variables.

Naturalistic Observations

A research method in which subjects are observed in their natural environment without any manipulation by the researcher.