Additional problem 12-1 (Algo)With a 0.02 percent chance of a stockout, what is the z-value to use in calculating safety stock? (Round your answer to two decimalpoints.) Use Table B.2Resulting Z-Value

Given data: Stock out = 0.02Solution: Formulae used: Service level = 1- stock out = 1- 0.02 = 0.98 Now by using the z-score table Resulting Z (0.98) = 2.05 From z score table.

Answered: Additional problem 12-1 (Algo) With a…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Additional problem 12-1 (Algo) With a 0.02 percent chance of a stockout, what is the z-value to use in calculating safety stock? (Round your answer to two decimal points.) Use Table B.2 Resulting Z-Value