A local distributor operates an inventory system where the o…

A local distributor operates an inventory system where the optimal order quantity Q* is strictly maintained at 1,000 units. The supplier’s lead time  is 1.5 years. The inventory manager observes that because the lead time is so long, there are always exactly 2 full orders in transit at any given time, plus a fractional remainder. If the reorder point (R) is set at 400 units, calculate the exact annual demand rate (

The following table shows the number of textbooks classified…

The following table shows the number of textbooks classified by subject and condition.  Art STEM Business New 75 50 25 Used 125 100 25   What is the probability that a randomly chosen textbook was used GIVEN that it was a STEM book? Report your answer to 3 decimal places.