Question: Please answer the following question please provide deait answer and formulas, thanks you You are a newsvendor selling the San Pedro Times every morning. Before
Please answer the following question please provide deait answer and formulas, thanks you
You are a newsvendor selling the San Pedro Times every morning. Before you get to work, you go to the printer and buy the days paper for $a copy. You sell a copy of the San Pedro Times for $Daily demand is distributed normally with mean and standard deviation At the end of each morning, any leftover copies are worthless and they go to a recycle bin. According to the above information, answer the following six questions.
Question
Determine the underage cost. Keep two decimals.
Question
Determine the critical ratio. Keep two decimals.
Question
Determine the optimal order quantity. Round your answer to the nearest integer.
Question
Everything else being equal, which of the following will lead to increased optimal order quantity?
Increase the cost of the paper from $to $
Reduce the selling price from $to $
CIncrease the standard deviation of demand from to
DReduce the mean of the demand from to
Question
Suppose you want to find the order quantity that ensures a instock probability, determine the order quantity. Round your answer to the nearest integer.
Question
Please us the LZ Table
Given order quantity Qcalculate the expected profit. Round your final answer to the nearest integer. DO NOT round intermediate results.
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