Question: TABLE 13.4 The Distribution, RO), and Expected Inventory. (o). Functions for the Standard Normal Distribution Function Fiz) 0000 0000 -39 0000 0000 .0001 0000 .0001

TABLE 13.4 The Distribution, RO), and Expected

TABLE 13.4 The Distribution, RO), and Expected Inventory. (o). Functions for the Standard Normal Distribution Function Fiz) 0000 0000 -39 0000 0000 .0001 0000 .0001 0000 -3.6 0002 0000 -35 0002 0001 0003 0001 .0005 0001 N 0007 0002 0010 0003 0013 0004 eo 0019 0005 0026 000 0035 0011 0047 0015 .0062 0020 0082 0027 0107 0037 0139 0049 0179 0065 -olo 0228 0085 0287 111 0359 0143 0446 13 0548 0232 0668 0293 0808 .0968 0455 1151 0561 1357 0586 1587 0833 1 1841 1004 2119 1202 -07 .2420 1429 2743 1687 3085 1978 3445 2304 3821 2668 4207 3069 4602 3509 5000 3989 .5398 4509 5793 5069 .6179 5668 6554 6915 6978 7257 7587 7580 7881 9202 8159 10004 8413 10833 16 8849 12561 9032 13455 9192 14367 9332 15293 9452 16232 9554 1713 9641 18143 973 19111 9772 2.0085 9821 21065 9851 2.2049 .9893 2.3037 .9918 2.4027 9938 2.5020 9953 26015 9965 2.7011 9974 2.8008 9981 2.9005 9987 3.0004 9990 3.1003 9993 3.2002 9995 3.3001 3.4 9997 3.4001 9998 3.5001 3.6000 9999 3.7000 9999 38000 3.9 10000 3.9000 10000 40000 Monsanto sells genetically modified seed to farmers. It needs to decide how much seed to put into a warehouse to serve demand for the next growing season. It will make one quantity decision. It costs Montanso $6 to make each kilogram (kg) of seed. It sells each kg for $45. If it has more seed than demanded by the local farmers, the remaining seed is sent overseas. Unfortunately, it only earns $3 per kg from the overseas market (but this is better than destroying the seed because it cannot be stored until next year). If demand exceeds its quantity, then the sales are lostthe farmers go to another supplier. As a forecast for demand, it will use a normal distribution with a mean of 275,000 and a standard deviation of 150,000. Use Table 13.4 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 kilograms should Montanso place in the warehouse before 4. the growing season? Use Table 13.4 and round-up rule. If Montanso put 450000 kgs in the warehouse, what is its expected b. revenue (include both domestic revenue and overseas revenue)? Use Table 13.4 and round-up rule. How many kilograms should Montanso place in the warehouse to c. minimize inventory while ensuring that the stockout probability is no greater than 1%? Use Table 13.4 and round-up rule. d. What is maximum profit for this seed

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