Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Vikki Velasquez is a researcher and writer who has ...

The normal distribution is the probability distribution that plots all of its values along a symmetrical bell curve, with the highest probabilities centered around the mean value and tapering out ...

Previous works on stochastic inventory problems have often assumed that an item's lead time demand follows a "convenient" distribution such as the normal, the γ or the Weibull. First, this paper ...

Skew‐normal distributions extend the traditional normal model by incorporating a parameter that accounts for asymmetry, thereby providing a more flexible framework for modelling real‐world data.