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Quantity to Achieve In-stock Probability: Goop Inc. needs to order a raw material to make a special polymer. The demand for the polymer is forecasted to be Normally distributed with a mean of 250 gallons and a standard deviation of 80 gallons. Goop sells the polymer for $25 per gallon. Goop's purchases raw material for $10 per gallon and Goop must spend $5 per gallon to dispose of all unused raw material due to government regulations. (Assume one gallon of raw material yields one gallon of polymer with no extra cost.) If demand is more than Goop can make, then Goop sells only what they made and the rest of the demand is lost. Suppose Goop wants to ensure that there is a 80% probability that they will be able to satisfy the customer's entire demand. How many gallons of the raw material should they purchase? Less than 150 O At least 150, but less than 200 At least 200, but less than 250 O At least 250, but less than 300 O At least 300, but less than 350 At least 350, but less than 400 O At least 400, but less than 450 O At least 450 Newsvendor Expected Profit: Dan's Independent Book Store is trying to decide on how many copies of a book to purchase at the start of the upcoming selling season. The book retails at $28.00. The publisher sells the book to Dan at $20.00. Dan will dispose of all of the unsold copies of the book at 50% off the retail price, at the end of the season. Dan estimates that demand for this book during the season is Normal with a mean of 1000 and a standard deviation of 250. Suppose Dan orders 1500 copies. What is Dan's expected profit? Choose the closest answer. O Less than 4000 O Greater than 4000 but less than 4250 O Greater than 4250 but less than 4500 O Greater than 4500 but less than 4750 Greater than 4750 but less than 5000 Greater than 5000 but less than 5250 O Greater than 5250