As an inventory manager, you must decide on the order quantity for an item. Its annual demand is 679 units. Ordering costs are $
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Using the normal distribution, it is found that Sue will get a letter grade of B.
In a <em>normal distribution </em>with mean and standard deviation
, the z-score of a measure X is given by:
- It measures how many standard deviations the measure is from the mean.
- After finding the z-score, we look at the z-score table and find the p-value associated with this z-score, which is the percentile of X.
In this problem, Sue got a grade of 0.85, hence .
- Looking at the z-table, z = 0.85 has a p-value of 0.8023, hence she is approximately in the top 20%, which is below the top 15% but above the top 50%, hence she got a letter grade of B.
A similar problem is given at brainly.com/question/25745464