a) (20 points) A fashion boutique, which is specialized in swimming suits wants to order the...

 

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a) (20 points) A fashion boutique, which is specialized in swimming suits wants to order the products at the beginning of April. Each swimming suit is purchased for 1740 TL, and sold for 2960 TL. Due to the high design cost, only one procurement will be made. A market survey indicates that the sales will be normally distributed with a mean of 358,430 suits, and a variance of 5762 suits. A loss of goodwill of 960 TL will be incurred in case of unsatisfied customers. At the end of summer months, it is unlikely that any more swimming suits will be sold until the next summer season. However, a second-hand store has agreed to buy all unsold swimming suits for 590 TL each. How many swimming suits should the fashion boutique order at the beginning of April? a) (20 points) A fashion boutique, which is specialized in swimming suits wants to order the products at the beginning of April. Each swimming suit is purchased for 1740 TL, and sold for 2960 TL. Due to the high design cost, only one procurement will be made. A market survey indicates that the sales will be normally distributed with a mean of 358,430 suits, and a variance of 5762 suits. A loss of goodwill of 960 TL will be incurred in case of unsatisfied customers. At the end of summer months, it is unlikely that any more swimming suits will be sold until the next summer season. However, a second-hand store has agreed to buy all unsold swimming suits for 590 TL each. How many swimming suits should the fashion boutique order at the beginning of April?

Answer rating: 100% (QA)

Mean demand 358430 Variance 5762 Loss of goodwill 960 TL per unit Loss if ... View the full answer