Mr. Sho operates a news-stand and sells newspaper - orders copies of the newspaper from the publisher

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Question:

Mr. Sho operates a news-stand and sells newspaper

- orders copies of the newspaper from the publisher at a cost of $4 per copy

- sells at a retailing price of $7

- The demand can be described with a normal distribution with mean 100 and standard deviation 12.

Questions:

How many copies should he order every day? (I got the answer of this part which is Critical fractile 0.4286, z=-0.18, Optimal Q*=97.84)

How much should Mr. Sho order if he wants to ensure a minimum service level of 70%?

Related Book For answer-question

Matching Supply with Demand An Introduction to Operations Management

ISBN: 978-0073525204

3rd edition

Authors: Gerard Cachon, Christian Terwiesch

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Posted Date: Mar 12, 2024 12:35 AM

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Mr. Sho operates a news-stand and sells newspaper - orders copies of the newspaper from the publisher

Question:

Expert Answer:

Okay lets work through this stepbystep 1 Optimal Order Quantity The demand for the newspaper follows ... View the full answer

Matching Supply with Demand An Introduction to Operations Management

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