A product retails at $$85$ per unit in Auckland, but its unsold inventory can be sold at a salvage value of $$20$ per unit. The wholesale price is $$30,$ but because of the long lead time, an order has to be placed when demand is uncertain; your current estimate is that demand for product P during the upcoming season will be drawn from a normal distribution with a mean of $1,200$ and a standard deviation of $300.$ However, a local supplier in Aotearoa New Zealand can deliver the same product on short notice, and you can place an order once you know the exact demand, but the unit cost is higher at $$50$ per unit.$$ You need to figure out what should be the profit$-$maximising order to be placed with the supplier with the long lead time who offers a wholesale cost of $$30.$

How would you set up this problem as a Newsvendor model?