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1. Dan McClure's bookstore must decide how many copies of a book, Power and Self- Destruction, to order. The book's retail price is $20 and the wholesale price is $12. The salvage value is $8. Dan believes the demand can be represented by a normal distribution with a mean of 200 and a standard deviation of 80. a) Dan prides himself on good customer service. His motto is Dan has what you want to read. What order quantity, Q, should he choose to achieve a 95 percent fill rate? Q = b) How many books, Q, should Dan order if he wants to achieve a 95 percent in-stock probability? Q = c) Dan decides to develop his own forecast of book sales. He collected data on recent books he felt matched the characteristics of Power and Self-Destruction. Using these data to construct an empirical distribution function, what would be the optimal order quantity, Q? (Assume Dan's initial forecast is 200 books.) Book Forecast Book Forecast 1 100 2 70 3 Actual Demand 27 209 83 77 205 228 12 88 A/F Ratio 0.27 1.23 0.52 0.77 1.37 1.20 0.20 1.47 100 170 160 100 150 190 60 60 Actual Demand 88 57 188 157 65 135 155 82 9 10 11 12 13 14 15 16 4 A/F Ratio 0.88 0.81 1.34 1.21 0.59 0.79 0.97 0.91 140 130 110 170 160 90 5 6 7 8 Q= Q=