$1$ PA $13-5($Algo$)$ Teddy Bower is an outdoor clothing and accessories chain...

References

Teddy Bower is an outdoor clothing and accessories chain that purchases a line of parkas at $$12$ each from its Asian supplier,

TeddySports. Unfortunately, at the time of the order placement, demand is still uncertain: Teddy Bower forecasts that its demand is

normally distributed with a mean of $1,900$ and a standard deviation of $1,500.$ Teddy Bower sells these parkas at $$21$ each. Unsold

parkas have little salvage value; Teddy Bower simply gives them away to a charity $($and also doesn't collect a tax benefit for the

donation$).$ Use Table $13\mathrm{.}4.$

Note: Do not round intermediate calculations. If a part of the question specifies whether to use Table $13\mathrm{.}4,$ or to use Excel, then

credit for a correct answer will depend on using the specified method.

a$.$ What is the probability this parka turns out to be a "dog", defined as a product that sells less than half of the forecast? Use Excel.

Note: Round your answer to $4$ decimal places.

Probability

b$.$ How many parkas should Teddy Bower buy from TeddySports to maximize expected profit? Use Table $13\mathrm{.}4$ and the round$-$up rule.

Note: Enter your answer as a whole number.

c$.$ If Teddy Bower orders $3,000$ parkas, what is the in$-$stock probability? Use Excel.

Note: Round your answer to $4$ decimal places.

In$-$stock probability

d$.$ If Teddy Bower orders $3,000$ parkas, what is expected leftover inventory? Use Table $13\mathrm{.}4$ and the round$-$up rule.

Note: Round your answer to $2$ decimal places.

d$.$ If Teddy Bower orders $3,000$ parkas, what is expected leftover inventory? Use Table $13\mathrm{.}4$ and the round$-$up rule.

Note: Round your answer to $2$ decimal places.

Expected leftover inventory

$1,624\mathrm{.}97$

e$.$ If Teddy Bower orders $3,000$ parkas, what is expected sales? Use your result from Part d$.$

Note: Round your answer to $2$ decimal places.

References

f$.$ If Teddy Bower orders $3,000$ parkas, what is expected profit? Use your results from Part d and Part e$.$

Note: Round your answer to $2$ decimal places.

g$.$ How many parkas should Teddy Bower order to ensure a $98\mathrm{.}5\%$ in$-$stock probability? how many parkas should Teddy Bower's

order? Use Table $13\mathrm{.}4.$

$1$ PA $13-5($Algo$)$ Teddy Bower is an outdoor clothing and accessories chain...

Teddy Bower is an outdoor clothing and accessories chain that purchases a line of parkas at $$12$ each from its Asian supplier,

TeddySports. Unfortunately, at the time of the order placement, demand is still uncertain: Teddy Bower forecasts that its demand is

normally distributed with a mean of $1,900$ and a standard deviation of $1,500.$ Teddy Bower sells these parkas at $$21$ each. Unsold

parkas have little salvage value; Teddy Bower simply gives them away to a charity $($and also doesn't collect a tax benefit for the

donation$).$ Use Table $13\mathrm{.}4.$

Note: Do not round intermediate calculations. If a part of the question specifies whether to use Table $13\mathrm{.}4,$ or to use Excel, then

credit for a correct answer will depend on using the specified method.

a$.$ What is the probability this parka turns out to be a "dog", defined as a product that sells less than half of the forecast? Use Excel.

Note: Round your answer to $4$ decimal places.

b$.$ How many parkas should Teddy Bower buy from TeddySports to maximize expected profit? Use Table $13\mathrm{.}4$ and the round$-$up rule.

Note: Enter your answer as a whole number.

c$.$ If Teddy Bower orders $3,000$ parkas, what is the in$-$stock probability? Use Excel.

Note: Round your answer to $4$ decimal places.

d$.$ If Teddy Bower orders $3,000$ parkas, what is expected leftover inventory? Use Table $13\mathrm{.}4$ and the round$-$up rule.

Note: Round your answer to $2$ decimal places.

Expected leftover inventory

e$.$ If Teddy Bower orders $3,000$ parkas, what is expected sales? Use your result from Part d$.$

Note: Round your answer to $2$ decimal places.

f$.$ If Teddy Bower orders $3,000$ parkas, what is expected profit? Use your results from Part $d$ and Part e$.$

Note: Round your answer to $2$ decimal places.