Reference this table

Use Table 13.4 CPG Bagels starts the day with a large production run of bagels. Throughout the morning additional bagels are produced as needed. The last bake is completed at 3 pm, and the store closes at 8 pm. It costs approximately $0.20 in materials and labor to make a bagel. The price of a fresh bagel is $0.60. Bagels not sold by the end of the previous day are sold the next day as "day-old" bagels in bags of six, for $0.99 a bag. About two-thirds of the day-old bagels are sold, the remainder are just thrown away. There are many bagel flavors, but for simplicity, concentrate just on the plain bagels. The store manager predicts that demand for plain bagels from 3 pm until closing is normally distributed with mean 52 and standard deviation 23. If a part of the question specifies whether to use Table 13.4, or to use Excel, then credit for a correct answer will depend on using the specified method. How many bagels should the store have at 3 pm to maximize the store's expected profit (from sales between 3 pm until closing)? (Hint: Assume day-old bagels are sold for $0.99/6 = $0.165 each, i.e., don't worry about the fact that day-old bagels are sold in bags of six.) Use Table 13.4 and round-up rule. Suppose the store manager has 100 bagels at 3 pm. How many bagels should b. the store manager expect to have at the end of the day? Use Table 13.4 and round-up rule. (Round your answer to a whole number.) Suppose the manager would like to have a 0.92 in-stock probability on demand c. that occurs after 3 pm. How many bagels should the store have at 3 p.m. to ensure that level of service? Use Table 13.4 and round-up rule. TABLE 13.4 The Distribution, FQ), and Expected Inventory, (Q), Functions for the Standard Normal Distribution Function z Fiz) Hz) z Z Fiz) (2) -4.0 00000000 -1.3 1.4 9192 1.4367 -3.9 1.5 1.5293 .0000 .0001 .0000 0000 0000 -1.2 -1.1 9332 9452 9554 1.6232 1.7183 .0001 0000 OO .0001 0001 20 0002 0002 0003 0005 0007 .0010 0013 06 2.1 .0001 0002 9641 1.8143 97131.9111 9772 2.0085 9821 2.1065 9861 2.2049 9893 2.3037 9918 2.4027 9938 2.5020 -0.5 .0003 -0.4 2.3 -0.3 -3.7 -3.6 -3.5 -3.4 -3.3 -3.2 -3.1 -3.0 -2.9 -2.8 -2.7 -2.6 -2.5 -24 -2.3 -2.2 -2.1 24 0004 0005 .0019 2.5 .0008 Fiz) Hz) 0968 0455 .1151 0561 1357 .0686 . 1587 0833 .1841 -1004 2119 1202 2420 1429 2743 1687 3085 .1978 3446 2304 3821 2668 4207 3069 4602 3509 5000 3989 5398 4509 .5793 5069 6179 5668 .6554 .6304 6915 .6978 .7257 7687 7580 .8429 78819202 8159 1.0004 8413 1.0833 8643 1.1686 8849 1.2561 9032 1.3455 9953 9965 2.6015 2.7011 0 2.8 9974 .0026 0035 .0047 .0062 0082 0107 2.8008 0011 .0015 0020 .0027 0037 2.9005 .9981 9987 3.0 3.0004 .9990 3.1003 0139 .0049 0065 .9993 9995 9997 3.2002 3.3001 3.4001 6 .0085 0179 0228 0287 0359 .0446 0111 -17 0143 0183 0232 1.0 3.7 .9998 9998 9999 9999 1.0000 1.0000 3.5001 3.6000 3.7000 3.8000 3.9000 4.0000 -1.6 0548 3.8 -1.5 0668 0293 1.2 3.9 4.0 -1.4 0808 .0367 1.3