Question: PLEASE ANSWER ASAPP WILL THUMBS UP ANSWER Use the information below to select the closest answer to the following questions. If you need to calculate

PLEASE ANSWER ASAPP WILL THUMBS UP ANSWER

Use the information below to select the closest answer to the following questions. If you need to calculate the z-value based on a given probability (or vice versa), you can either use Excel or the table at https://www.math.arizona.edu/~rsims/ma464/standardnormaltable.pdf Links to an external site..

Publishers selling price to newsvendor: $0.70 per unit

Newsvendors selling price to customers: $1.00 per unit

Newsvendors salvage value for unsold items: $0.10 per unit

Demand is normally distributed with an average of 100 and a standard deviation of 40.

Question 1: The understocking cost is $ ,

the overstocking cost is $ ,

and the critical ratio is .

Question 2: The optimal order quantity is :

units.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!