I have historical data for each month since Jan 2005 showing # stock going out of a location(demand) and stock coming in (supply). Both are pretty random. Is there a formula I can use that can tell me how much stock I need to have in order to fullfill 95% of demand based on this historic data? I have calculated the Mean, Min, Max and SD of both but have no idea how to combine this info.
Thanks!
Steve
Thanks!
Steve