How many items would need to be stocked

Reference no: EM13190771

In an inventory study it was determined that on average demands for a particular item at a warehouse were made four times per day. What is the probability that on a given day an item is requested

1) More than three times?
2) Not at all?
3) If only 4 items are stocked, what is the probability of not having enough on a given day?
4) How many items would need to be stocked if the probability of not having enough on a given day is 5%?

Reference no: EM13190771

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