Hello, I am having trouble with this question: One of SuperFun's managers felt the profit potential was

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I am having trouble with this question:

One of SuperFun's managers felt the profit potential was so great the order quantity should have a 70% chance of meeting demand and only a 30% chance of any stock- outs. What quantity would be ordered under this policy, and what is the projected profit under the three sales scenarios?

Standard deviation is 5102

Mean is 20,000

Three sales scenarios: pessimistic 10,000 likely 20,000 optimistic 30,000

I am really looking for the correct formulas to find the 70% demand and the 30% stock out (with an explanation would be helpful)

Posted Date: May 17, 2024 02:07 AM

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Hello, I am having trouble with this question: One of SuperFun's managers felt the profit potential was

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