A Distribution of Lead Times in an Inventory Problem Indicates

Multiple Choice

A distribution of lead times in an inventory problem indicates that lead time was 1 day 20 percent of the time, 2 days 30 percent of the time, 3 days 30 percent of the time, and 4 days 20 percent of the time. This distribution has been prepared for Monte Carlo analysis. The first four random numbers drawn are 06, 63, 47, and 02. What is the average lead time of this simulation?

A) 1.75 days
B) 2 days
C) 3 days
D) 3.5 days
E) 8 days