HINT: there is no probability involved.
Hello, I need help with the following problem
I would appreciate it if you could help me.
A supermarket sells 4 competitive items a, b, c and d.
If 300 customers want to buy ,in one day , one of these items,
Which quantity of each item should be available at the beginning of the day
So that no more than 1% of the customers will not be able to find the
Item they are looking for.
Thanks for your time
HINT: there is no probability involved.
Thank you for your reply and your time. Now I'm more confused
It can't be that simple..
1% = 3 customers
So 297 items per category??
That sounds totaly wrong to me :/
If you have the following assumptions:
- each customer will buy only 1 item from 1 category
- each customer is independent to each other
- you know the probabilities that a randomly selected customer will buy category A, B, C and D respectively
then the demand of the 4 categories
will jointly follows the multinomial distribution
and your question will be like to determine the minimum supply
such that
Note this is a random event. So you must state with how much "confidence" you have for this to happen. If you did not state any confidence, we may assume to be 100% and you obtain the answer 297 which does not involve any probability as said by staassis.
oh thank you so much for making that clear to me.. i have spent more than 2 days searching for the way to handle it. i really appreciate your time
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