Question: Please help to solve in EXCEL ( hand written or typing Not acceptable, download excel file with formulas Question 4: Anna Sheen wanted to start

Please help to solve in EXCEL ( hand written or typing Not acceptable, download excel file with formulas

Question 4:

Anna Sheen wanted to start a daily newspaper at her hometown. Anna daily wrote stories and articles around news and feature material that she gathered from around town. The newspapers were printed overnight by a local printer at a marginal cost of $0.20 per copy (i.e., the printer charged 20 cents for each additional copy of a newspaper). Anna sold the newspaper the following morning from 6 a.m. to 10 a.m. for $1 per copy. Copies not sold by 10 a.m. received a salvaged value of 5 cents. Demand for newspapers was unpredictable; Sheen estimated demand daily before delivering it to the printer. Based on data from similar entrepreneurial ventures and interviews with potential customers, she estimated that daily demand for her newspaper was normally distributed with a mean of 500 and standard deviation of 100. Answer the following questions on worksheet Q4:

a)

What is the optimal stocking quantity Q* (rounded to the nearest integer) of the newspaper that would maximize Anna's expected profit per day?

b)

What is the expected order fill rate given that Q*?

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