Which One of the Following Is Implied by an "Annual

Multiple Choice

Which one of the following is implied by an "annual" service level of 95 percent?

A) Approximately 95 percent of demand during lead time will be satisfied.
B) The probability is 95 percent that demand will exceed supply during lead time.
C) The probability is 95 percent that demand will equal supply during lead time.
D) The probability is 95 percent that demand will not exceed supply during lead time.
E) None of the above.