Question: Task 4 : A tire store orders its stock for a popular winter tire once every year. The cost of a tire for the store
Task : A tire store orders its stock for a popular winter tire once every year. The cost of a tire for the store is $ The store sells a tire for $ at the regular price. The regular demand per year is tires, which is normally distributed with a standard deviation of tires. Customers do not prefer to buy from an older stock; hence the store does not keep the tires for the next year. The store is able to sell the excess stock at a reduced price of $ per tire.
How many tires the store should order each year? Marks
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