Write a 500- to 750-word case study paper that provides the interpretation of the results for the following:
- Use the sales forecaster’s prediction to describe a normal probability distribution that can be used to approximate the demand distribution.
- Sketch the distribution and show its mean and standard deviation. Hint: To find the standard deviation, think Empirical Rule covered in Week 1.
- Compute the probability of a stock-out for the order quantities suggested by members of the management team (i.e. 15,000; 18,000; 24,000; 28,000). Use the Excel Function to calculate the probability of a stock-out.
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