(Solved): The article "The Uniform Distribution as a First Practical Approach to New Product Inventory Manag ...

The article "The Uniform Distribution as a First Practical Approach to New Product Inventory Management" [International Journal of Production Economics, 2008, 114(2)] proposed a uniform distribution to model the demand of a new product before observing the actual distribution. You will model demand forecasts with a discrete uniform distribution. According to your estimates, the minimum and the maximum levels of new product demand are 5 and 30 units per day, respectively. (a) Determine the mean and variance of new product demand. Customers who are registered on a corporate Web site are summarized by the type of shipping contract they use and the number of orders in the previous month. The number of customers in each category are shown in the following table. Customers are to be selected randomly. (a) What is the conditional probability that the customer had one order last month given that the customer uses express shipping? Round your answer to three decimal places (e.g. 98.765). \[ P= \] (b) What is the conditional probability that the customer uses express shipping given that the customer had at least one order last month? Round your answer to three decimal places (e.g. 98.765). \[ P= \]