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Monsanto sells genetically modified seed to farmers. It needs to decide how much seed to put into a warehouse to serve demand for the next growing season. It will make one quantity decision. It costs Monsanto $8 to make each kilogram (kg) of seed. It sells each kg for $45. If it has more seed than demanded by the local farmers, the remaining seed is sent overseas. Unfortunately, it only earns $3 per kg from the overseas market (but this is better than destroying the seed because it cannot be stored until next year). If demand exceeds its quantity, then the sales are lostthe farmers go to another supplier. As a forecast for demand, it will use a normal distribution with a mean of 300,000 and a standard deviation of 100,000 Round your answer to 2 digits after the decimal point if it is not an integer Do NOT use comma in, your numeric answers. Monsanto's maximum profit for this seed is $ 11100000 The underage cost is $ 37 The overage cost is $ 5 The critical ratio is 0.88 Monsanto should place 418000 kg of seed in the warehouse before the growing season to maximize its expected profit. In such case, the expected leftover inventory will be kg, the expected sales will be kg, the expected profit will be $ and the mismatch cost will be s (use the standard normal table below) If Monsanto puts 400.000 kg in the warehouse, its expected revenue (include both domestic revenue and overseas revenue) will be $ 13450140 (use the standard normal table below) Monsanto should place 430000 kg of seed in the warehouse if it wants to minimize its inventory white ensuring that the stockout probability is no greater than 10% (use the standard normal table below) TABLE 13.4 The Distribution, RQ), and Expected Inventory, KQ), Functions for the Standard Normal Distribution Function F12) Z Fiz) Itz) -4.0 .0000 .0000 -1.3 .0968 .0455 1.4 9192 1.4367 -3.9 .0000 10000 -1.2 .1151 .0561 1.5 .9332 1.5293 -3.8 .0001 .0000 -1.1 .1357 .0686 1.6 .9452 1.6232 -3.7 0001 .0000 -1.0 .1587 .0833 1.7 9554 1.7183 -3.6 .0002 .0000 -0.9 .1841 .1004 1.8 9641 1.8143 1.9111 -3.5 .0002 .0001 -0.8 2119 .1202 1.9 9713 -3.4 0003 0001 -0,7 2420 .1429 20 9772 2.0085 -3.3 0005 0001 -0.6 2743 1687 21 9821 2.1065 -3.2 0007 .0002 -0.5 .3085 .1978 2.2 .9861 2. 2049 -3.1 .0010 .0003 -0.4 3446 .2304 23 9893 2.3037 -3.0 .0013 .0004 -0.3 3821 2668 2.4 9918 2.4027 2.9 .0019 0005 -0.2 4207 3069 2.5 .9938 2.5020 -2.8 0026 10008 -0.1 4602 3509 2.6 .9953 2.6015 -2.7 0035 .0011 0 5000 .3989 2.7 .9965 2.7011 -2.6 0047 .0015 1 5398 4509 28 9974 2 8008 -2.5 .0062 0020 2 5793 5069 2.9 9981 2,9005 -2.4 0027 0082 3 6179 5668 3.0 9987 30004 --23 0107 0037 6554 6304 3.1 9990 3.1003 -2.2 5 6915 6978 3.2 9993 3.2002 0139 0179 0049 0065 -2.1 6 7257 7687 3.3 9995 3.3001 -2.0 0228 OOBS 7580 8429 3.4 9997 34001 -27 0035 0011 0 5000 3989 27 9965 2.7011 -26 0047 0015 1 4509 28 9974 2.8008 5398 5793 -25 0062 2 5069 2.9 9981 2.9005 0020 0027 3 6179 5668 3.0 9987 3.000 0002 0107 -2.3 0037 4 6554 6304 31 9990 3. 1003 o130 0049 5 69 15 6978 3.2 9993 32002 -22 -21 No179 0069 6 7257 7687 33 3.4 9995 9907 3,3001 3.4001 -20 0228 OOBS 7 8429 780 7801 -19 0111 8 3.5001 0287 0369 3.5 3.6 9998 9000 -1.8 9 9202 1,0004 1.0033 0143 o183 30000 -1.7 0446 B109 4 13 8643 10 37 9999 37000 1.6 0548 0232 11 1.1686 38 3.8000 9999 1.0000 -1.5 0293 1.2 8849 1.2661 3.9000 0668 3 9032 1.3455 4.0 10000 4.0000