Question: c. What is the probability that demand for this book will be within 20 percent of the mean forecast (i.e., between 160 and 240 )?

 c. What is the probability that demand for this book will
be within 20 percent of the mean forecast (i.e., between 160 and
240 )? Use Table 13.4. Note: Round your answer to 4 decimal
places. d. What order quantity maximizes Dan's expected profit? Use Table 13.4.

c. What is the probability that demand for this book will be within 20 percent of the mean forecast (i.e., between 160 and 240 )? Use Table 13.4. Note: Round your answer to 4 decimal places. d. What order quantity maximizes Dan's expected profit? Use Table 13.4. e. If Dan orders the quantity needed to achieve a 95 percent in-stock probability, what is the probability that some customer won't be able to purchase a copy of the book? Note: Round your answer to 2 decimal places. f. Suppose Dan orders 300 copies of the book. What is Dan's expected leftover inventory? Use Table 13.4. Note: Round to the nearest whole number. g. Suppose Dan orders 300 coples of the book. What are Dan's expected sales? Use Table 13.4. Note: Round to the nearest whole number. h. Suppose Dan orders 300 copies of the book. What is Dan's expected profit? Use Table 13.4. Note: Round to the nearest whole number. Dan McClure owns a thrlving independent bookstore in artsy New Hope, Pennsylvania. He must decide how many coples to order of a new book, Power and Self-Destruction, an expose on a famous politiclan's lurid affairs. Interest in the book will be intense at first and then fizzle quickly as attention turns to other celebrities. The book's retall price is $20, and the wholesale price is $12. The publisher will buy back the retailer's loftover copies at a full refund, but McClure Books incurs $4 in shipping and handling costs for each book returned to the publisher. Dan believes his demand forecast can be represented by a normal distribution with a mean of 200 and a standard deviation of 80 . Table 13.4 is the standard normal table. Note: If a part of the question specifies whether to use Table 13.4, or to use Excel, then credit for a correct answer will depend on using the specified method. a. Dan will consider this book to be a blockbuster for him if it sells more than 400 units. What is the probability that Power and SelfDestruction will be a blockbuster? Use Table 13,4. Note: Round your answer to 4 decimal places. b. Dan considers a book a "dog" if it sells less than 50 percent of his mean forecast. What is the probability this expose is a "dog"? Use Excel. Note: Round your answer to 4 decimal places. i. How many books should Dan order if he wants to achieve a 95 percent in-stock probability? Use Table 13.4

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