The number of cell phone minutes used by high school seniors follows a normal distribution with a mean of 500 and a standard deviation of 50. What is the probability that a student uses between 400 and 500 minutes?

In a one-period inventory model, the higher the after-season sales price, the higher the order placed at the start of the season

Indicate whether the statement is true or false

For a certain group of items, the cost of carrying inventory and the cost of placing orders is not

exactly known but is about the same for all the items. The company has calculated K = 20 for these items. If one item has an annual demand ( A) = $10,000 the NEW order quantity should be: A) $10,000. B) $2,000. C) $50,000. D) $20,000. E) none of the above