Description
Average daily sales of muffins in Michael’s store is 8 units. The actual number of sales each day is either 7, 8, or 9, with probabilities 0.3, 0.4, or 0.3, respectively. The lead time for delivery averages 4 days, although the time may be 3, 4, or 5 days, with probabilities of .2, .6, and .2. Michael plans to place an order when the inventory level drops to 32 units (based on the average demand and average lead time). Michael orders 50 muffins at a time. The following random numbers have been generated:
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Explanation & Answer
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Average daily sales of muffins in Michael’s store is 8 units. The actual number of sales ea
although the time may be 3, 4, or 5 days, with probabilities of .2, .6, and .2. Michael plan
Michael orders 50 muffins at a time. The following random numbers have been generate
Set 1: 60, 87
Set 2: 52, 78, 13, 06, 99, 98, 80, 09, 67, 89, 45, 54, 81, 79
Use set 1 to generate lead times and set 2 to simulate daily demand. Simulate two week
Use the simulation to calculate the following: compare average demand during simulate
lead time. Calculate average ...
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