What is the Z value corresponding to a stock out probability of 2%?

Chicago's Hard Rock Hotel distributes a mean of 1,000 bath towels per day to guests at the pool and in their rooms. This demand is normally distributed with a standard deviation of 95 towels per day, based on occupancy. The laundry firm that has the linen contract requires a 4-day lead time. The hotel expects a 98% service level to satisfy high guest expectations. Refer to the standard normal table for z-values. a) What is the reorder point? towels (round your response to the nearest whole number). towels (round your response to the nearest whole number). b) What is the safety stock? Z-Table Z 0.38 0.50 0.67 0.84 1.04 1.28 1.41 1.56 1.65 1.75 2.06 2.33 Pr(Z) 65 69 75 80 85 90 92 94 95 96 98 99

2) Daily demand for a product is normally distributed with a mean of 100 and a standard deviation of 12. The lead time is normally distributed with a mean of 5 days and a standard deviation of 1.5 days. a) What is the ROP to satisfy a %90 probability of not stocking out? b) What is the safety stock? c) What is the probability of stocking out if the manager has decided not to keep any safety stock? What is the Z value, and what is the probability?

The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Meow, Inc. for an operating period. Units Unit Total Units Cost Cost Sold Beginning Inventory 50 $62 $3,100 Sale No. 1 40 Purchase No. 1 30 50 1,500 Sale No. 2 32 Purchase No. 2 40 44 1,760 Totals 120 $6,360 72 Assuming Meow, Inc. uses LIFO perpetual inventory procedures, the ending inventory cost is:

An apartment complex has a vacancy rate of 5%. If the apartment's PG is $450,000, what is the apartment's vacancy cost? $32,000 $22.500 S2.050 $47,500

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Weiss’s paint store keeps an inventory of white latex paint product in the gallon size. The manager reviews the stock level every 4 months. Demand is observed to be normally distributed with a monthly mean of 28 gallons and a standard deviation of 8. Re-supply lead time is 2.5 months. The store manager targets a 98 percent in-stock probability during the lead time. • What is the target inventory position?

In a Q system, the demand rate for strawberry ice cream is normally distributed, with an average of 295 pints per week. The lead time is 6 weeks. The standard deviation of weekly demand is 16 pints. Refer to the standard normal table for z-values. a. The standard deviation of demand during the 6-week lead time is 39 pints. (Enter your response rounded to the nearest whole number.) b. The average demand during the 6-week lead time is 1770 pints. (Enter your response as an integer.) c. The reorder point that results in a cycle-service level of 96 percent is pints. (Enter your response rounded to the nearest whole number.)

A warehouse manager at Mary Beth Marrs Corp. needs to simulate the demand placed on a product that does not fit standard models. The concept being measured is "demand during lead time," where both lead time and daily demand are variable. The historical record for this product, along with the cumulative distribution, appear in the table. Demand During Lead Time Cumulaive Probability Probability 120 0.01 0.01 140 0.12 0.13 160 0.35 0.48 180 0.20 0.68 200 0.04 0.72 220 0.08 0.80 240 0.20 1.00 The following random numbers have been generated: 9, 78, 40, 41, and 99. (Note: Assume the random number interval begins at 01 and ends at 00.) Based on the given probabilty distribution, for the given random number the demand during the lead time is: Random Number 9 78 40 41 99 Demand The average demand during the lead time is (enter your response as an integer). The total demand during the lead time based on the five simulations is (enter your response as an integer).

In the single period model, if the excess cost is 7.5 times the shortage cost, the approximate stock - out risk, assuming an optimum service level, is: a. 88.24 % b. 66.18 % c. 10 % d. 11.76 %