Goop Inc. needs to order a raw material to make a special polymer. The demand for the polymer is forecasted to be normally distributed with a mean of 250 gallons and a standard deviation of 125 gallons. Goop sells the polymer for $25 per gallon. Goop purchases raw material for $10 per gallon and Goop must spend $5 per gallon to dispose of unused raw material due to government regulations. (One gallon of raw material yields one gallon of polymer.) If demand is more than Goop can make, then Goop sells only what they made, and the rest of demand is lost. Saved Suppose Goop purchases 150 gallons of raw material. What is the probability that they will run out of raw material? (Enter the answer as a percentage rounded to 1 decimal place. Use the Standard Normal Distribution Function Table.) Question 1 options: 78.8% 77.8% 77.2% 76.2% Question 2 (0.75 points) Saved Suppose Goop purchases 300 gallons of raw material. How many gallons of demand on average would remain unfulfilled? (Round the answer to 1 decimal place. Use the Standard Normal Loss Function Table.) Question 2 options: 25.2 25.8 27.2 28.8 Question 3 (0.75 points) Suppose Goop purchases 400 gallons of raw material. How much should they expect to spend on disposal costs? (Round your final answer to the nearest whole dollar. Use the Standard Normal Loss Function Table.) Question 3 options: $775 $782 $785 $792 Suppose Goop wants to ensure that there is a 92% probability that they will be able to satisfy the customer's entire demand. How many gallons of raw material should they purchase? (Round your final answer to the nearest whole number. Use the Standard Normal Distribution Function Table.) Question 4 options: 426 427 428 429 How many gallons should Goop purchase to maximize its expected profit? (Use the Standard Normal Distribution Function Table) Question 5 options: 220 230 240 250 A company wants to standardize two of its products to take advantage of product pooling. Under which demand conditions will the standardization be most effective? Question 6 options: If the demand for the two products is somewhat positively correlated. If the demand for the two products is perfectly positively correlated. If the demand for the two products is uncorrelated. If the demand for the two products is negatively correlated. The benefits of pooling do not rely on the underlying correlation. A manufacturing company is considering two options for adopting manufacturing flexibility. Option 1 allows Factory 1 to produce both Products 1 and 2 while Factory 2 can only produce Product 2. Option 2 allows Factory 2 to produce both Products 1 and 2 while Factory 1 can only produce Product 1. A picture containing diagramDescription automatically generated Option 1 is preferable over Option 2 when there is more uncertainty in demand for Product 2 than for Product 1. Question 7 options: True False