A retail outlet finds from historic data that it sells an average of 220 copies of a newspaper daily; this figure comes with a standard deviation of 35 units. The sales figures can be approximated to a normal distribution.
- If the retail outlet wishes to cater to 98% of possible daily demand, how many copies should it stock?
- If it wishes to cater to 45% of the possible daily demand, how many copies should it stock?
