The Knitting Company ( TKC ) is planning production for its four sweater styles that are popular
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Question:
The Knitting Company TKC is planning production for its four sweater styles that are popular during Christmas. All four styles have demand that is normally distributed. The bestselling style has an expected demand of and a standard deviation of Each of the other three styles has an expected demand of with a standard deviation of Currently, all sweaters are produced before the start of the season. Production cost is $ per sweater, and they are sold for a wholesale price of $ Any unsold sweaters at the end of the season are discounted to $ and they all sell at that price. It costs $ to hold the sweater in inventory for the entire season if it does not sell.
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