SOLVE USING EXCEL AND SHOW ALL EXCEL FORMULAS

SOLVE USING EXCEL AND SHOW ALL EXCEL FORMULAS

Question 2 (Normally Distributed Demand) The Supermarket Store is about to place an order for Halloween candy. One best-selling brand of candy can be purchased at $2.50 per box before and up to Halloween. After Halloween, all the remaining candy can be marked down and sold for $1.00 per box. Assume that the loss in goodwill "cost" stemming from customers whose demand is not satisfied is $0.35. The store is considering a price per box (p) of $4,$5,$6, and $7. Recognizing that demand is price dependent, through market research the store determines that demand is normally distributed such that if: (a) p=$4, mean ==50, and standard deviation ==20; (b) p=$5, mean ==46, and standard deviation ==20; (c) p=$6, mean ==42, and standard deviation ==20; and (d) p=$7, mean ==38, and standard deviation ==20. For each sales price, complete the following table