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QUESTION 2 Teddy Bower is an outdoor clothing and accessories chain that purchases a line of parkas at $10 each from its Asian supplier, TeddySports. Unfortunately, at the time of the order placement, demand is still uncertain: Teddy Bower forecasts that its demand is normally distributed with a mean of 2100 and a standard deviation of 1200. Teddy Bower sells these parkas at $22 each. Unsold parkas have little salvage value; Teddy Bower simply gives them away to a charity (and also doesn't collect a tax benefit for the donation). Round your answer to 2 digits after the decimal point if it is not an integer. Do NOT use comma in your numeric answers. %, which is defined as a product that sells less than half of the The probability that this parka turns out to be a "dog" is forecast (use the standard normal table below). The overage cost is $ The critical ratio is The underage cost is $ Teddy Bower should buy below) parkas from TeddySports in order to maximize its expected profit (use the standard normal table The maximum profit for the parka is $ If Teddy Bower orders 3000 parkas, the in-stock probability will be parkas, the expected sales will be and the mismatch cost will be $ %, the expected leftover inventory will be parkas, the expected profit will be $ (use the standard normal table below). TABLE 13.4 The Distribution, FQ), and Expected Inventory, 10). Functions for the Standard Normal Distribution Function z (2) F(z) 1(2) F(2) I(z) F(x) 0000 -4.0 .0000 -13 .0968 0455 1.4 .9192 1.4367 -3.9 .0000 .0000 -12 . 1151 0561 1.5 .9332 1.5293 -3.8 .0001 -1.1 .1357 0686 1.6 .9452 .0000 .0000 1.6232 1.7183 .0001 -1.0 .1587 0833 1.7 .9554 -3.7 -3.6 0002 .0000 -0.9 .1841 1004 1.8 9641 1.8143 -3.5 .0002 .0001 -0.8 2119 .1202 1.9 .9713 1.9111 -3.4 .0003 -0.7 2420 .1429 2.0 .9772 2.0085 .0001 0001 -3.3 -0.6 2743 1687 2.1 9821 0005 0007 2.1065 22049 -3.2 .0002 -0.5 3085 1978 22 .9861 -3.1 0010 0003 -0.4 3446 2304 2.3 9893 2.3037 .0004 -0.3 3821 2.4 .9918 -3.0 -2.9 .0013 .0019 2668 3069 2.4027 2.5020 .0005 -0.2 .4207 2.5 .9938 -2.8 .0026 .0008 -0.1 .4602 3509 2.6 .9953 2.6015 -2.7 .0011 0 3989 2.7 .9965 0035 0047 .5000 5398 2.7011 2.8008 -2.6 .0015 .1 4509 2.8 9974 -2.5 .0062 .0020 2. 5069 2.9 .9981 2.9005 .5793 .6179 -2.4 .0082 .0027 3 5668 3.0 .9987 3.0004 -2.3 4 6554 6304 3.1 .9990 31003 0107 0139 .0037 .0049 -2.2 5 .6915 .6978 3.2 .9993 3.2002 -2.1 0179 .0065 .6 .7257 7687 3.3 3.3001 .9995 .9997 -2.0 0228 0085 .7 .7580 .8429 3.4 3.4001 -1.9 0287 .0111 8 .7881 9202 3.5 .9998 3.5001 -1.8 0359 0143 9 8159 1.0004 3.6 .9998 3.6000 -1.7 0446 0183 1.0 .8413 1.0833 3.7 .9999 3.7000 3.8000 -1.6 0548 .0232 1.1 8643 1.1686 3.8 .9999 1.0000 -1.5 0668 1.2 1.2561 3.9 3.9000 .0293 0367 .8849 9032 -1.4 .0808 1.3 1.3455 4.0 1.0000 4.0000