QUESTION 16 (This problem description is for Questions 12-16) Erica Zhang is the chief buyer for house wares at a large department store. Unfortunately, her store faces stiff competition from specialty retailers that carry imported cooking and dining articles. To meet this competitive challenge, Erica has reorganized her house wares department to create a "store within a store" that has the same ambiance as her competitors. To kick off her concept she plans a one-month promotion that features a sale on several specialty items, including a Three Kings' baking dish. (The Three Kings' baking dish leaves a "crown" image on the top of the cake.) These baking dishes must be ordered six months in advance from a far-away supplier. Any leftover inventory at the end of the promotion will be sold to a discount chain at a reduced price. Erica has collected some pricing and cost data to help her decide how many of the Three Kings' baking dishes to order. Erica predicts total demand for the baking dish to be normally distributed with mean of 980 and standard deviation of 354. Left over dishes will be sold to the discount chain for $15. Dishes are sold for $40 each and can be purchased for $19.80 each. Now suppose that the demand for the Three Kings' baking dishes has uniform distribution: U[500, 1500). What is the optimal order quantity to maximize the expected profit? O 1315 1375 1350 1317 O 1307 1325 Click Save and Submit to save and submit. Click Save All Answers to save all answers, Save QUESTION 16 (This problem description is for Questions 12-16) Erica Zhang is the chief buyer for house wares at a large department store. Unfortunately, her store faces stiff competition from specialty retailers that carry imported cooking and dining articles. To meet this competitive challenge, Erica has reorganized her house wares department to create a "store within a store" that has the same ambiance as her competitors. To kick off her concept she plans a one-month promotion that features a sale on several specialty items, including a Three Kings' baking dish. (The Three Kings' baking dish leaves a "crown" image on the top of the cake.) These baking dishes must be ordered six months in advance from a far-away supplier. Any leftover inventory at the end of the promotion will be sold to a discount chain at a reduced price. Erica has collected some pricing and cost data to help her decide how many of the Three Kings' baking dishes to order. Erica predicts total demand for the baking dish to be normally distributed with mean of 980 and standard deviation of 354. Left over dishes will be sold to the discount chain for $15. Dishes are sold for $40 each and can be purchased for $19.80 each. Now suppose that the demand for the Three Kings' baking dishes has uniform distribution: U[500, 1500). What is the optimal order quantity to maximize the expected profit? O 1315 1375 1350 1317 O 1307 1325 Click Save and Submit to save and submit. Click Save All Answers to save all answers, Save