A Distribution of Lead Times in an Inventory Problem Indicates

question 2

Multiple Choice

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

• A) 1.75 days.
• B) 2 days.
• C) 3 days.
• D) 3.5 days.
• E) 4 days.

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Definitions:

Stimulus Intensity

The magnitude of energy present in a stimulus, influencing the strength of the response.

Saturation

In color theory, describes the intensity or purity of a color; a fully saturated color has no addition of white, black, or gray.

Brightness

The perception of how light or dark a color appears; can also refer to the overall intensity of light sources.

Hue

A dimension of color that is determined by the wavelength of light; essentially, the aspect of color that is described as red, blue, green, etc.