Question: It will be better if the answer are with Microsofe Excel. thanks Individual Assignment - 50 Points Note: Please show all calculations for your answers.

It will be better if the answer are with Microsofe Excel. thanks
It will be better if the answer are with
It will be better if the answer are with
Individual Assignment - 50 Points Note: Please show all calculations for your answers. If you are using Excel, please write down the formula you used. Providing only the answers will result in 50% penalty. This is an individual exercise. Late submissions will not be accepted. Question 1: (30 points) The fast-food restaurant Five Guys operates on national basis. The store manager of Five Guys in Muncie has to decide how many 'Cheese Dog's to make every day. He learns that daily demand for 'Cheese Dog's follows a normal distribution of mean 100 and standard deviation 16. (a) The manager estimates that he will be able to make profit if he can sell more than 136 'Cheese Dog's every day. The manager expects to get incentive only if he makes profit. What is the probability that the manager will receive incentive? (4 points) (b) The manager is also aware that if the sale drops below 60, then he receives a pay-cut. What is the probability that he will receive a pay cut? [4 points) (c) What is the probability that the 'Cheese Dog sales is within 20% of the average value? [4 points) (d) The store manager must plan to get breads ready to cook 'Cheese Dog' everyday morning. How many breads should he prepare for any given days so that he can keep the stock-out probability within 10%? (4 points) (e) If the manager has materials available to make only 128 "Cheese Dog's for a given day, how many will the expected lost sales be, assuming there is no way that additional raw materials cannot be refilled during the day? [4 points] (f) If the manager wants to keep the expected lost sales to be 15 or lower, then how much raw materials (equivalent to how many 'Cheese Dog's) must he store at the beginning of the day?[5 points)

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