The demand for magazines follows a normal distribution with a mean of 22.6 magazines per month...
The demand for magazines follows a normal distribution with a mean of 22.6 magazines per month and a standard deviation of 3.7 magazines. The store pays $3.50 for each magazine it orders and sells each magazine for $8.00. This store can sell unsold magazines back for $1.50 at the end of the month. The store must order the magazines in multiples of five magazines. How many magazines should the store order each month?
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The demand for magazines follows a normal distribution with a
mean of 22.6 magazines per month...
14. The monthly demand for the latest computer at Newland Computers follows a normal distribution with a mean of 350 an...
14. The monthly demand for the latest computer at Newland Computers follows a normal distribution with a mean of 350 and standard deviation of 75. Newland purchases these computers for $1,200 and sells them for $2,300. It costs the com pany $100 to place an order and $12 for every computer held in inventory at the end of each month. Currently, the company places an order for 1,000 computers whenever the inventory at the end of a month falls below...
Inventory control subject to uncertain demand
Inventory control subject to uncertain demandA book and paper store distributes one specialized monthly magazine. When looking at the sales the last years, they have concluded that the demand for each issue of the magazine will be normally distributed with an expected sale of 250 and a standard deviation of 100. The purchase price for the magazine is $20. and the sales price is $50.The store has an agreement with a second -hand store that buys unsold magazines for $5 each. How many magazines should the store buy of each issue?In some situations with uncertain demand, so called...
A gasoline mini-mart orders 25 copies of a monthly magazine. Depending on the cover story, demand...
A gasoline mini-mart orders 25 copies of a monthly magazine. Depending on the cover story, demand for the magazine varies between 10 and 30 copies each month. The mini-mart purchases the magazines for $1.50 and sells them for $4.00. Any magazines left over at the end of the month are donated to hospitals and other health care facilities. Use the Minimart spreadsheet to model this situation. Identify the best order quantity using a simulation with 100 trials. To generate the...
9. A product's demand over (/+ 1) periods follows a normal distribution with mean of 80...
9. A product's demand over (/+ 1) periods follows a normal distribution with mean of 80 and standard deviation of 20. The order-up-to level is 100. What is the in-stock probability? 01 O 0.8413 。0.5987 O 0.3413
John knows that monthly demand for his product follows a normal distribution with a mean of...
John knows that monthly demand for his product follows a normal distribution with a mean of 2,500 units and a standard deviation of 425 units. Given this, please provide the following answers for John. a. What is the probability that in a given month demand is less than 3,000 units? b. What is the probability that in a given month demand is greater than 2,200 units? c. What is the probability that in a given month demand is between 2,200...
John knows that monthly demand for his product follows a normal distribution with a mean of...
John knows that monthly demand for his product follows a normal distribution with a mean of 2,500 units and a standard deviation of 425 units. Given this, please provide the following answers for John. a. What is the probability that in a given month demand is less than 3,000 units? b. What is the probability that in a given month demand is greater than 2,200 units? c. What is the probability that in a given month demand is between 2,200...
Suppose a retailer has two markets, 1 and 2. demand 1 follows normal distribution with mean...
Suppose a retailer has two markets, 1 and 2. demand 1 follows normal distribution with mean 100 and standard deviation 12.4. demand 2 follows normal distribution with mean 110 and standard deviation 16.7. the retailer needs to know the mean and standard deviation of the TOTAL demand. please describe the conceptual analysis process to find out these two parameters by using simulation
suppose a retailer has two markets, 1 and 2. demand 1 follows normal distribution with mean...
suppose a retailer has two markets, 1 and 2. demand 1 follows normal distribution with mean 100 and standard deviation 12.4. demand 2 follows normal distribution with mean 110 and standard deviation 16.7. the retailer needs to know the mean and standard deviation of the difference between the two demands. please describe the conceptual analysis process to find out these two parameters by using simulation
Suppose that a grocery store buys milk for $2.10 and sells it for $2.60. If the...
Suppose that a grocery store buys milk for $2.10 and sells it for $2.60. If the milk gets old then the grocery store can sell their unsold milk back to their wholesaler for $0.60 (so the grocery store loses $1.50 on each gallon that it has to sell back to the wholesaler). Suppose that the demand for milk is normally distributed with a mean of 2,384 gallons per week and a standard deviation of 431 gallons per week. The grocery...
Suppose that a grocery store buys milk for $2.10 and sells it for $2.60. If the...
Suppose that a grocery store buys milk for $2.10 and sells it for $2.60. If the milk gets old then the grocery store can sell their unsold milk back to their wholesaler for $0.60 (so the grocery store loses $1.50 on each gallon that it has to sell back to the wholesaler). Suppose that the demand for milk is normally distributed with a mean of 2,055 gallons per week and a standard deviation of 481 gallons per week. The grocery...
14. The monthly demand for the latest computer at Newland Computers follows a normal distribution with a mean of 350 and standard deviation of 75. Newland purchases these computers for $1,200 and sells them for $2,300. It costs the com pany $100 to place an order and $12 for every computer held in inventory at the end of each month. Currently, the company places an order for 1,000 computers whenever the inventory at the end of a month falls below...
9. A product's demand over (/+ 1) periods follows a normal distribution with mean of 80 and standard deviation of 20. The order-up-to level is 100. What is the in-stock probability? 01 O 0.8413 。0.5987 O 0.3413
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