Question: 2nd time same ans 68 pcnt is incorrect ans i want correct ans QUESTION 3 (This problem description is for Questions 1-5) Erica Zhang is

2nd time same ans 68 pcnt is incorrect ans i want correct ans

2nd time same ans 68 pcnt is incorrect ans i want

QUESTION 3 (This problem description is for Questions 1-5) Erica Zhang is the chief buyer for house wares at a large department store. Unfortunately, her store faces stiff competition from specialty retailers that carry imported cooking and dining articles. To meet this competitive challenge, Erica has reorganized her house wares department to create a "store within a store" that has the same ambiance as her competitors. To kick off her concept she plans a one-month promotion that features a sale on several specialty items, including a Three Kings' baking dish. (The Three Kings' baking dish leaves a "crown" image on the top of the cake.) These baking dishes must be ordered six months in advance from a far-away supplier. Any leftover inventory at the end of the promotion will be sold to a discount chain at a reduced price. Erica has collected some pricing and cost data to help her decide how many of the Three Kings' baking dishes to order. Erica predicts total demand for the baking dish to be normally distributed with mean of 980 and standard deviation of 354. Left over dishes will be sold to the discount chain for $15. Dishes are sold for $40 each and can be purchased for $19.80 each. Suppose 1200 Three Kings' baking dishes are ordered and available for sale. What is the in-stock probability (or service level)? 68.04% O 73.24% O 71.24% 70.24% 80.27% 72.15%

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!