Periodic review system, A night club that operates seven

Periodic review system

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Reference no: EM133961727

Question

A night club that operates seven days a week uses a periodic review system where they check the stock of beer and liquor every Tuesday (at noon) and place an order that arrives on Thursday (at noon). They have found that demand for Silk beer ( smooth as silk ) averages 4.5 units per day with a standard deviation of 2.1 units. In any given week, they would like to be 95% sure that they don' t run out of Silk beer before their order arrives. On Tuesday, if they have 12 units beer on hand, how many units should they order?

Reference no: EM133961727

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