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Industry 4.0 · End Term · 13 Apr 2025 · January 2025 term · Set 2

Question 21: If the store orders 520 units, what is the probability o…

Question 21

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A store sells a seasonal product with demand following a normal distribution, having a mean of 500 units and a standard deviation of 75 units. Each unit is purchased for ₹200 and sold for ₹350. Any leftover stock is cleared at a discounted price of ₹100 per unit. Based on the above data, answer the given subquestions.

If the store orders 520 units, what is the probability of a stockout? (probability corresponding to the Z -value = 0.6064) (enter your answer without the percentage symbol and rounded off to two decimals. E.g. if your answer is 39.223%, enter your answer as 39.22)

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Question 21 of 32 in the IIT Madras BS Industry 4.0 (Industry 4.0) End Term paper sat on 13 Apr 2025, in the January 2025 term (IIT M IMPROVEMENT FN EXAM QIM2 13 Apr). It carries 2 marks.

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