Answer :
The Z value of 2.33 would be associated with a service level of (D) 99 percent.
The normal distribution is a probability distribution that is commonly used to describe real-valued random variables that tend to cluster around a single mean value. The Z value, also known as the Z-score, is a measure of how many standard deviations a data point is from the mean. A Z value of 2.33 indicates that the data point is 2.33 standard deviations above the mean.
The service level is the probability that a product will be available when a customer wants to purchase it. A service level of 99 percent means that there is a 99 percent chance that the product will be available when the customer wants to purchase it.
To determine the service level associated with a Z value of 2.33, we can use a Z-table or a calculator. A Z-table is a table that lists the cumulative probabilities associated with different Z values. Using a Z-table, we can find that a Z value of 2.33 is associated with a cumulative probability of 0.9901, or 99.01 percent. Therefore, the service level associated with a Z value of 2.33 is 99 percent (D).
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