Question: Please Show all work. 1 . You are the procurement manager of Tacy's. The supplier offers a new style of classical bomber jacket for the
Please Show all work.
You are the procurement manager of Tacy's. The supplier offers a new style of classical bomber jacket for the winter season. The purchase cost is $ and the selling price is $ You consider offering a discount for unsold jackets at the end of the season. The discounted price is $ The forecasted demand, D is normally distributed with a mean of units mu and a standard deviation of units sigma Assume that the AF ration is
a You will get a promotion if the total sold jackets is above units. What is the probability that the actual demand will be units or more?
b Selling less than of the average forecast may result in the placement of your position in a lower pay grade. What is the probability of selling more than
c What is the probability that the actual demand is within of the average forecast?
d Whatistheexpectedprofitmaximizingorderquantity,Q
e Assuming Tacy's Manger enforces and orders quantity of Q What are the expected lost sales?
f AtQ what are the expected sales?
g At Q what is the expected leftover inventory?
h At Q what is the expected profit?
i AtQ what is the expected fill rate?
j AtQ what is the stockout probability?
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