Question: Please confirm the answer for question 3 and the rest of the question. I need an expert tutor to look over my solution You are
Please confirm the answer for question and the rest of the question. I need an expert tutor to look over my solution
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.
Please confirm my answer and make adjustment also complete
Question
Determine the underage cost. Keep two decimals.
selling price procurementmanufacturing cost
$
Question
Determine the critical ratio. Keep two decimals.
Cost of overageCo Cost price salvage value
CuCuCo or
Question
Determine the optimal order quantity. Round your answer to the nearest integer.
FORMULA FOR EOQ
QSQRKDH
please answer this question?
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 $
Increase the standard deviation of demand from to
Reduce 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.
To find the order quantity that ensures a instock probability, we need to find the demand level at which the probability of demand being less than or equal to that level is For a normal distribution, this is the mean plus the standard deviation times the zscore corresponding to
The zscore for a probability of is approximately So the order quantity is:
Order Quantity Mean Z Standard Deviation
Q mu z times sigma
ANSWER:
Question
Given order quantity Q calculate the expected profit. Round your final answer to the nearest integer. DO NOT round intermediate results.
Expected lost sale
z Qsigma
WHEN LOOKING AT THE TABLE WE LOOK AT PLEASE CONFIRM??
Lz
Expected lost sale sigma times Lztimes
Expected sales
Expected demand Expected lost sales
Expected leftover inventory
Order quantity Expected sales
Expected profit
Pricecosttimes Expected Sales CostSalvage valuetimes Expected leftover inventory times times
$
$ Answer
Please confirm all the Appendix: Standard Normal Loss Function Table continued
Standard Normal Loss Function Table, Concludedanswers if they are correct and also make adjustment and answer question # please verify the answer before they are submitted, questions has been cancelled do to incomplete, thank you
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