Question: Please provide rows for 75, 80, 85 and 90 The University of Miami bookstore stocks textbooks in preparation for sales each semester. It normally relies

Please provide rows for 75, 80, 85 and 90
The University of Miami bookstore stocks textbooks in preparation for sales each semester. It normally relies on departmental forecasts and preregistration records to determine how many copies of a text are needed. Preregistration shows 90 operations management students enrolled, but bookstore manager Vaidy Jayaraman has second thoughts, based on his intuition and some historical evidence. Vaidy believes that the distribution of sales may range from 70 to 90 units, according to the following probability model: Demand Probability 70 0.15 75 0.20 80 0.20 85 0.15 90 0.30 This textbook costs the bookstore $65 and sells for $95. Any unsold copies can be returned to the publisher, less a restocking fee and shipping, for a net refund of $40. a) Based on the given information, Vaidy's conditional profits table for the bookstore is: Demand 80 70 75 p = 0.20 85 p= 0.15 90 p=0.30 Stock p= 0.15 p = 0.20 70 2100 2100 2100 2100 2100 75Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
