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.
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