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Demand during lead time with associated probabilities is shown below: Demand: 50, 70, 75, 80, 85 Probability: 0.15, 0.14, 0.21, 0.20, 0.30 Expected demand during lead time is -------

1. 50
2. 70
3. 75
4. 80

Correct answer: 75

Solution

Expected demand = 50(0.15)+70(0.14)+75(0.21)+80(0.20)+85(0.30) = 7.5+9.8+15.75+16+25.5 = 74.55, which rounds to about 75. The closest option is 75 (index 2), not 80.

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